Families Face ‘Boomerang’ Kid Planning Challenge: Nationwide
October 23, 2019 by Allison Bell
Some U.S. families may have an unexpected source of caregiving concern: able-bodied adult children who have not fully fledged.
Analysts at Nationwide’s Nationwide Retirement Institute have included a little information about that issue in a new long-term care planning (LTC) survey report.
The institute commissioned an online poll of 1,462 adults ages 50 and older, with investable assets of at least $50,000.
The institute found that:
1. People are still so clueless about LTC planning that the percentage who say they have long-term care insurance is much higher than the actual figure. About 25% of the survey participants said they have LTCI coverage, even though the true penetration rate for stand-alone LTCI and life or annuity based hybrids is probably less than 15%.