A new consumer survey from Prudential called Long-Term Care Insurance: A Piece of the Retirement and Estate Planning Puzzle” was released in March 2011. This survey may be more useful to financial and other professional advisors than to the general public. Such advisors need to be aware that they are often as guilty of wanting to avoid a conversation about responsible LTC planning as the general public. Avoidance of this discussion can prove to be quite harmful to the people they strive to serve with excellence.
This survey shows that the public is concerned about the possible need for long-term care (LTC) but they still want to put off discussing LTC planning until retirement. In other words, the survey illustrates people’s denial of their possible need for LTC and their desire to avoid discussing it.
The survey also shows that misinformation about LTC insurance and LTC planning abounds.
I see and hear misinformation about LTC insurance all the time.
This survey echoes the observations I make on this blog. For me, it’s a constant source of sadness and frustration that people’s denial of their need for care makes them avoid conversing about responsible LTC planning.