Tag: long-term care
The brief’s key findings are: More than one quarter of those who buy long-term care insurance at age 65 will let their policies lapse at some point, forfeiting all benefits. Lapses could be due to the burden of insurance premiums, a strategic calculation that care use is less likely, or poor decisions due to declining…
New study suggests a key reason is cognitive impairment. Long-term care is a substantial financial risk for most retired households. Yet few buy long-term care insurance. And, among those who do, more than one third with policies at age 65 will let their policies lapse before death, forfeiting all benefits. A new study by my…
