So, why exactly is it that Americans — and residents of many other developed countries — do such a truly terrible job of planning for long-term care (LTC) costs?
Many consumers are broke, the world is uncertain, and people hate to think about having difficulties with the activities of daily living.
But people also hate thinking about getting sick, suffering from a disability, getting into an automobile accident, or dying, and they seem to be much more likely to use private insurance to protect themselves against those risks than they are to use LTCI to protect against LTCI.
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Allison Bell
Allison Bell, a senior reporter at ThinkAdvisor and BenefitsPRO, previously was an associate editor at National Underwriter Life & Health. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached through X at @Think_Allison.
