More Than Half of Americans Over 50 Worried About LTC Costs

A new study backed by the insurance industry found than almost 60 percent of Americans over the age of 50 are worried about the costs of long-term care - and only 16 percent feel financially prepared to deal with those costs.

The study was sponsored by Sun Life Financial. Bob Klein, Sun Life's VP of Strategic Planning and Linked Benefits, suggests that adult children start talking to their parents about LTC insurance when the parents are five to 10 years away from retirement and focus on advance planning rather than panicking.

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