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I am curious to know how many Americans have long term care insurance. Can you provide some statistics on this?
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According to a 2020 study by LIMRA, a global insurance industry research organization, approximately 8.3 million Americans owned individual long-term care insurance policies. This represents around 3.9% of the adult population in the United States. It is important to note that these numbers may vary slightly depending on the source and the year of the study. Additionally, many people rely on other sources of long-term care support, such as Medicaid or private funds, rather than purchasing insurance policies. The demand for long-term care insurance is expected to grow as the population ages and the need for long-term care services increases.
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