Many Americans who could buy long-term care insurance (LTCI) don't. Why?
Are the decisions a matter of taste, the result of confusion -- or, perhaps, the result of a lack of understanding that LTCI exists?
The researchers found, for example, that confidence may correlate with education and income but also seems to have a separate, positive influence on the likelihood that people will buy LTCI coverage.
Lack of confidence shaped the actions of two of the five groups the researchers came up with.
That lack of awareness suggests that simply giving people confidence about knowing where to go for information could help, Langer said. "The process of gaining information may produce greater awareness that, in turn, bolsters support for fresh approaches to long-term care policies and programs," he added.
Chernof said LTCI agents should recognize that simply helping people become aware enough that they know they ought to plan could help.