Thrivent probes LTC planning gap
By National Underwriter
By Allison Bell
Women seem to be more likely than men to be planning to provide informal long-term care (LTC) but less likely to be preparing to pay for formal LTC services for themselves.
Thrivent Financial for Lutherans has published that finding in a summary of results from a recent survey of 1,005 U.S. adults.
Women tend to live several years longer than men, tend to outlive their husbands by several years, and are more likely to need formal LTC services, according to the American Association for Long-Term Care Insurance.
But only 12 percent of the women surveyed said they own long-term care insurance (LTCI), and 60 percent of the women said they have no intention of buying LTCI coverage.
Nineteen percent of the men said they own LTCI coverage, and and only 53 percent said they have no intention of buying LTCI coverage.
When survey workers asked Thrivent about caregiving, 26 percent of the women said they would quit their jobs to become primary caregivers if necessary. Only 14 percent of the men said they would consider leaving their jobs to become caregivers.
Originally published on LifeHealthPro.com