John Hancock Survey - Primary Obstacles
According to the survey (John Hancock 2006 Long Term Care Survey), an overwhelming majority (83%) of Americans believe it is irresponsible not to plan ahead for LTC (long term care) needs, and 42% identified LTC insurance as the best solution for LTC funding. About 70% haven't done anything about it yet.
LTC Insurance continues to gain acceptance as an important component of comprehensive financial planning, the fact that most survey respondents do not regard it as a priority continues to be an industry challenge.
The survey confirmed what we (John Hancock) have long recognized to be the primary obstacles to purchase. They are:
- Fear Leading to Denial
- Lack of knowledge
- Competing Priorities
- Cost Overshadows Value
We will look at each of these over the next few blogs. At AM Warner Insurance, we can help you with your individual needs.
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