Part 1: 2017 Long-Term Care Research - lfgnewsroom.lfg.com/sites/lfg.newshq.businesswire.com/files/... · 2018-02-21 · LCN-1996835-011718 ©2018 Lincoln National Corporation Part

©2018 Lincoln National CorporationLCN-1996835-011718

Part 1: 2017 Long-Term Care ResearchFindings from Surveys of Advisors and Consumers

Lincoln Financial Group and Versta Research

February 2018

Lincoln Financial Group Research Conducted by Versta Research

Lincoln Financial Group Research Conducted by Versta Research LCN-1996835-011718

Contents

Page

Research Methods................................................................................................................................. 3

Consumers.....................................................................................................................................4

Long-Term Care Planning....................................................................................................................... 5

Burdens of Long-Term Care................................................................................................................... 9

Financial Planning for Long-Term Care................................................................................................ 12

Paying for Long-Term Care and Long-Term Care Insurance................................................................. 15

Advisors.......................................................................................................................................22

Approach to Financial Planning........................................................................................................... 23

Long-Term Care Planning..................................................................................................................... 28

Need for Long-Term Care Insurance.................................................................................................... 38

Appendix..................................................................................................................................... 45

2


Research Methods

Versta Research, a third-party research firm, was commissioned by Lincoln Financial Group to design

and conduct two surveys—one among consumers and one among producing financial advisors—on

the topic of long-term care attitudes, experiences, and planning.

Consumer Survey

• Sample of 1,012 U.S. adults

• Recruited from a national online research panel used exclusively for polling and research

• Sample was stratified by age, gender, sexual orientation, race and ethnicity, region, and income

• Final data was weighted to match U.S. Census on age, gender, race, ethnicity, and region

Advisor Survey:

• Sample of 500 producing financial advisors

• Recruited from a national online business panel used exclusively for research

• To qualify for the survey, advisors had to have familiarity with long-term care or hybrid products,

minimum 5 years tenure as an advisor, and a minimum average client portfolio of $100,000

• Advisors represent a full range of channels, including independent broker dealers, wirehouses,

regional and insurance broker dealers, banks, and others

The surveys were conducted from August 28 to September 22, 2017.

3


CONSUMERS

4


Attitudes Toward Long-Term CareLong-Term Care Planning

5

Consumer Survey


Self

Spouse

Parent

Not at all likely (1) (2) (3) (4) Extremely likely (5)

13%

13%

16%

19%

15%

11%

35%

31%

23%

21%

26%

25%

12%

15%

25%

Perceived Likelihood of Needing Long-Term Care

50% likely

33% likely

40% likely

One-third of Americans surveyed believe they will need long-term care. More believe a parent or spouse will.

Q16. How likely do you feel it is that: a. You will need long-term care sometime (1,012n); b. A parent will need long-term care sometime (766n); c. Your spouse will need long-term care sometime? (759n)

6


Have talked with...

... About whowould providelong-term care

... About howlong-term care

would be paid for

Spouse 52% 47%

Parents 35% 27%

Children 29% 24%

Friends 22% 15%

Conversations aboutLong-Term Care

“Families should discuss plans for long-term care before they actually need it”

<1%3%

47%

50%

Agree strongly

Agree somewhat

Disagree somewhat

Disagree strongly

97%agree

3%disagree

Most agree that families should discuss long-term care planning, but far fewer have had such conversations.

Q34c. How much do you agree or disagree with each of the following statements: Families should discuss plans for long-term care before they actually need it? (1,012n) Q26. Have you had specific conversations with the following people about who would provide long-term care for you if you needed it? (597–888n) Q27. Have you had (or did you have) specific conversations with a parent about who would provide long-term care for them if they needed it? (745n) Q28. Have you had specific conversations with the following people about how you would pay for long-term care if you needed it? (600–887n) Q29. Have you had specific conversations with a parent about how they would pay for long-term care if they needed it? (702n)

7


“We waited too long before discussing plans and options for long-term care”

23%

29%

35%

13%

Agree strongly

Agree somewhat

Disagree somewhat

Disagree strongly

49%agree

51%disagree

Of those who have provided long-term care themselves, half say they waited too long before discussing plans.

Q50b. [IF HAS PROVIDED LONG-TERM CARE] How much do you agree or disagree with each of the following: We waited too long before discussing plans and options for long-term care? (226n)

8


Attitudes Toward Long-Term CareBurdens of Long-Term Care

9

Consumer Survey


Biggest

Perceived Burdens(% all respondents)

Burdens

Experienced

by Caregivers(% saying difficult)

The emotional burden of providing care 72% 84%

The physical burden and difficulty of care 64% 62%

The time burden of providing long-term care 64% 72%

The financial burden of cost 56% 40%

The health consequences of stress 51% 46%

The financial burden of lost earnings 35% 39%

Americans surveyed acknowledge a wide range of burdens on family members who provide long-term care.

Q25. What do you think are the biggest burdens on family members who provide long-term care for loved ones? (1,012n) Q48. [IF HAS PROVIDED LTC] How difficult was it for you: a. Emotionally; b. Physically; c. In terms of your health; d. In terms of how much time it took; e. In terms of lost earnings from work; f. In terms of the financial cost of providing care? (226n)

10


Who Will Provide Long-term Care(multiple select)

Families as Insurance

My spouse is mylong-term care

insurance

My kids are mylong-term care

insurance

27%

32%

20%

33%

44%

29%

10%

7%

Disagreestrongly

Disagreesomewhat

Agreesomewhat

Agreestrongly

35% agree65% disagree


43%

41%

37%

30%

3%

43%

27%

39%

27%

4%

My spouse

Rehab facility ornursing home

Home health aide

My children

Someone else Expect to provide

Want to provide

Some want and expect their children and spouses to provide long-term care if needed.

Q43. How much do you agree or disagree with each of the following statements: a. My kids are my long-term care insurance (707n); b. My spouse is my long-term care insurance (693n)? Q18. If you need long-term care who will mostly provide this care: My spouse; My children; A home health aide; A rehabilitation facility or nursing home; Someone else(1,012n)? Q19. Who would you want to provide this care? (1,012n)

11


Financial Planning for Long-Term Care

12

Consumer Survey


Most believe advisors should discuss long-term care with clients. But few people have had these discussions.

13

[BASE ALL] Q26c. Conversations with your financial advisor - Have you had specific conversations with the following people about who would provide long-term care for you if you needed it? Q28c. Conversations with your financial advisor - Have you had specific conversations with the following people about how you would pay for long-term care if you needed it? Q34d. How much do you agree or disagree with each of the following statements : Financial advisors should talk about long-term care plans with their clients? (1,012n)

14%Have talked with an advisor about how they would pay for long-term care if they needed it

13%Have talked with an advisor about who would providelong-term care ifthey needed it

Long-Term CareConversations with Advisors

Financial Advisors Should DiscussLong-Term Care Plans with Clients

Agree strongly

Agree somewhat

Disagree somewhat

Disagree strongly

2%8%

57%

32%

90%agree

10%disagree


Most agree that discussing long-term care with an advisor would be valuable, but the topic is “out of mind.”

14

[IF “HOW YOU WOULD PAY” CONVERSATION WITH ADVISOR=NO] Q31. How valuable would it be to discuss this and include it in your financial planning? (150n) Q30. Why have you never talked about how you would pay for long term care with your advisor? (150n)

Reasons for Not Talking with an Advisorabout Paying for Long-Term Care

(multiple select)

I’ve never reallythought about it

My advisor has neverraised the issue

Seems like a lowpriority right now

It is outside of whatmy advisor does

It’s too depressingto talk about

I don’t think I willneed long-term care

Other reasons

33%

32%

29%

25%

17%

11%

8%

Very valuable

Somewhat valuable

Not too valuable

Not at all valuable

7%

16%

58%

20%

Value in Including Long-Term Carein Financial Planning

78%valuable

22%not valuable


Paying for Long-Term Care and Long-Term Care Insurance

15

Consumer Survey


Respondents in the consumer survey (like advisors) underestimate the cost of nursing home long-term care.

1 Source: LTCG, “2017 Lincoln Financial Group Cost of Care Survey”

Advisor Q32. What would you estimate is the average annual cost of a private room in a nursing home facility in the United States today? [mean] (476n) Consumer Q46. What would you estimate is the average annual cost of a private room in a nursing home facility in the United States today? [mean] (965n)

$103,000

$75,000

$54,000

$0

$25,000

$50,000

$75,000

$100,000

$125,000

$150,000

Actual National Average1

Advisors Consumers

Annual Cost of Nursing Home Care as Estimated by ...


Only a third of Americans surveyed feel confident of having the financial resources to pay for long-term care.

17

Q45. Overall, how confident are you that you will have the financial resources to pay for long-term care expenses should the need arise? (1,012n)

"How confident are you that you will have the financial resources to pay for long-term care should the need arise?”

16%

13%

37%

22%

11%

34%confident

(5) Extremely confident

(4)

(3)

(2)

(1) Not at all confident

30%not confident


Most believe they would pay for care through Medicare, Medicaid, or health insurance.

18

Q20. [IF AIDE OR NURSING HOME WILL MOSTLY PROVIDE CARE] How would you most likely pay for this care? (623n)

How People Would Pay For Long-Term Care If Needed (multiple select)

65%

29%

60%

37%

1%

Medicare orhealth insurance

Medicaidassistance

My savings orother assets

Long-term careinsurance

Some other way

In all, 73% believe they will rely on

Medicare, Medicaid, or their health

insurance for long-term care.


One in seven report having long-term care insurance. Another four in ten are interested.

19

Q36. Do you currently have a long-term care insurance policy? [BASE ALL] Q39.How interested are you in purchasing long-term care insurance someday? (1,012n)

15%

43%

0%

25%

50%

75%

100%

Currently Own Interested in Buying Someday

Long-Term Care Coverage


The biggest reasons for not having long-term care insurance are perceptions on cost and being too young.

20

Q38. [IF NO LTC POLICY] What are the reasons you do not have a long-term care insurance policy? (791n)

Reasons for Not Having Long-Term Care Insurance(multiple select)

Too expensive

I’m too young

Plan to rely on Medicare/Medicaid

Annual premiums can keep going up

Plan to rely on own savings

Too depressing to think about

Don’t think I will need long-term care

Seems like a waste if I never need it

Insurance companies may not be able to pay in the future

Plan to rely on family for care

I’m too old

Would not qualify given my health

Other reasons

44%

33%

19%

18%

15%

13%

11%

9%

7%

7%

6%

6%

7%


Many see good health and strong faith as the best long-term care insurance.

21

How much do you agree or disagree with each of the following statements? Q34e. I shouldn’t have to spend my savings paying for long-term care. Q43c. Leading a healthy lifestyle is my long-term care insurance. Q43d. Faith that everything will work out is my long-term care insurance. (1,012n)

Leading a healthy lifestyle is my long-term care insurance

I shouldn't have to spend my savings paying for long-term

care

Faith that everything will work out is my long-term

care insurance

19%

27%

27%

7%

10%

24%

57%

40%

40%

17%

23%

9%




Disagree strongly Disagree somewhat Agree somewhat Agree strongly


ADVISORS

22


Approach to Financial Planning

23

Advisor Survey


Two-thirds of advisors take a broad, holistic approach to financial planning.

24

Q15. Which describes you better, even if neither is exactly right: I try to help clients with a broad and holistic plan for their overall financial future; I try to stay focused on the financial needs my clients express and have concerns with? Q16. How much do you agree or disagree with each of the following statements: a. It is important to me to offer advice that supports a client’s children and other family members; b. I want to give my clients emotional peace of mind that comes from financial peace of mind? (500n)

Advisors' Approach to Financial Planning

64%Take a

Holistic Approach

36% Take a

Focused Approach

99%Want to give clients emotional piece of mind that comes from financial peace of mind

86%Feel it is important to offer advice that supports a client's family


Advisors say clients want to plan protection for their spouses and children.

25

Q11a. How important to your clients is: a. planning for a spouse’s future in case something happens to them; b. planning for their children as part of their own financial planning? (500n)

Importance of Planning for Children and Spouses

3%

31%

<1%

2%

49%

52%

48%

15%

Importance to clients ofplanning for a spouse’s future

Importance to clients ofplanning for their children

Not at all important Not so important Important Extremely important

97% important

67% important


Advisors feel it is valuable to meet with client with their children or extended family.

26

Q12. How often do you meet clients along with their children or extended family members? Q13. How valuable (would it be//is it) to meet clients along with children or extended family members? How much do you agree or disagree with each of the following statements? (500n)

Frequency of MeetingClients with Family

2% 5%

48%

45%

Very valuable

Somewhat valuable

Not too valuable

Not at all valuable

93%valuable

Value of Meeting ClientsTogether with Family

2%

37%

52%

8%

61%often/sometimes

Often

Sometimes

Rarely

Never


Most advisors see value in addressing long-term care specifically with children and extended family members.

27

Q14. [IF NEVER OR RARELY MEET] If you were to meet clients along with their adult children or extended family members, which topics would be

valuable to discuss? [IF SOMETIMES OR OFTEN MEET] When meeting clients along with their adult children or extended family members, which topics are valuable

to discuss? [BASE: IF VALUABLE TO MEET CLIENTS ALONG WITH CHILDREN OR EXTENDED FAMILY] (466n)

Topics Advisors View as Valuable to Address with Children/Extended Family(multiple select)

88%

81%

73%

65%

59%

58%

47%

44%

33%

1%

Estate planning

Long-term care plans

Wealth protection planning

Healthcare expenses

Life insurance

Tax planning

Education funding

Gift giving

Charitable giving

Other topics


Long-Term Care Planning

28

Advisor Survey


Nearly all advisors agree that long-term care planning is important for clients.

29

Q9d. How important do you think it is for clients to include these things in their retirement planning: Long-term care expenses in case they need it? Q33d. How much do you agree or disagree with each of the following statements: Financial advisors should talk about long-term care plans with their clients? Q41d. How confident are you that long-term care planning is in your clients’ best interest? Q23b. How much do you agree or disagree with each of the following statements: Families should discuss plans for long-term care before they actually need it? (500n)

Families should discuss plans for long-term care before they actually need it

Advisors should talk aboutlong-term care plans with clients

Long-term care planningis in clients’ best interest

Important that clients include longterm care expenses in their planning

1%

3%

4%

5%

<1%

<1%

<1%

<1%

24%

31%

38%

45%

75%

65%

58%

50%

Disagree strongly/Not at all confident/Not at all important

Disagree somewhat/Not too confident/Not so important

Agree somewhat/Somewhat confident/Important

Agree strongly/Very confident/Extremely important

96% confident

99% agree

95% important

96% agree


Advisors say only some of their clients are thinking about long-term care expenses.

30

Q8d. When you begin working with clients and talk about retirement planning, how many clients are specifically thinking about and planning for how much they will need to cover: Long-term care expenses in case they need it? Q22. How many of your clients have you witnessed experiencing a need for long-term care? Q23a. How much do you agree or disagree with each of the following statements: People are not sufficiently planning for long-term care? (500n)

2%

22%

42%

28%

5%

All

Most

Some

Few

None

Clients Who Think About Long-Term Care

Expenses

Agree strongly

Agree somewhat

Disagree somewhat

Disagree strongly

<1%6%

49%

44%

“People are not sufficientlyplanning for long-term care”

92%of advisors

report having

clients who

have needed

long-term

care


Advisors have talked with half to two-thirds of their clients about long-term care planning.

31

Q18. With what percentage of your clients have you specifically discussed: a. whether they will need long-term care sometime; b. how long-term care costs should factor into their planning; c. long-term care insurance? Q20. With what percentage of your clients have you specifically discussed: a. who will most likely provide long-term care if they need it; b. who they would want to provide long-term care if they need it; c. how they would pay for long-term care; d. their fears about needing long-term care; e. whether providing long-term care would be a burden on their family? (500n)

Percentage of Clients with Whom Advisors Have Discussed...

63% 63%59% 57% 56% 56%

52% 50%

0%

20%

40%

60%

80%

100%

How care costsshould factor

into theirplanning

Whether theywill need long-

term care

How they wouldpay for long-

term care

Whether providinglong-term care

would be a burdenon their family

Long-term careinsurance

Their fears aboutneeding care

Who wouldmost likely

provide care

Who they wouldwant to provide

care

Mea

n P

erce

nta

ge o

f C

lien

ts


Advisors agree that long-term care can be difficult for clients to discuss.

32

How much do you agree or disagree with each of the following statements? Q33a. Long-term care is a difficult topic for clients to talk about; b. Long-term care is a difficult topic for me to talk about with clients; c. Clients are reluctant to talk about long-term care. (500n)

20%

21%

39%

4%

3%

33%

60%

61%

24%

16%

15%

4%




Long-term care is a difficult topicfor clients to talk about

Clients are reluctant to talkabout long-term care

Long-term care is a difficult topicfor me to talk about with clients



Advisors say that typically they raise the topic of long-term care, and clients often prefer not to discuss it.

33

Q27. Who usually raises the topic of long-term care, you or your clients? Q28. For clients with whom you have not discussed long-term care, is it because: Usually I see no need to talk about it; Equal split—half the time they do not want to talk about it, and half the time I see no need; Usually they do not want to talk about it? (500n)

“For clients with whom you have not discussed long-term care, is it because...”

“Who usually raises the topic of long-term care, you or your clients?”

8%

32%

59%

37%

46%

17%

Advisor raises

Client raises

Equal split

Advisor sees no need to discuss

Client doesn’twant to discuss

Equal split


The biggest reason for client reluctance is that clients don't think they will need long-term care.

34

Q29. What are the biggest reasons clients may not want to talk about long-term care? (500n)

Reasons Clients Do Not Want to Discuss Long-Term Care(multiple select)

61%

52%

43%

42%

16%

2%

Don’t think they willneed long-term care

Low priority

Never reallythought about it

Too depressingto talk about

Cost (vol.)

Other reasons


Clients become more interested in long-term care planning when they have experience with it.

35

Q31. What are the biggest triggers of clients’ willingness or desire to discuss long-term care? (500n)

Triggers of Clients’ Willingness to Discuss Long-Term Care(multiple select)

75%

59%

50%

49%

30%

29%

25%

15%

11%

1%

Having someone close to them need long-term care

Seeing somebody close become a long-term caregiver

Becoming a long-term caregiver themselves

Their age

Advice from family or friends

Having enough income to afford it

Advice from an advisor

Retiring from a job

Having it offered as a work benefit

Other triggers


The top reason advisors may avoid talking about long-term care is that clients are not interested.

36

Q30. What are the biggest reasons you may not want to talk about long-term care? (500n)

Reasons Advisors May Avoid Talking about Long-Term Care(multiple select)

45%

34%

17%

13%

12%

9%

9%

8%

8%

Clients are usually not interested

I feel it is a low priority for them

I don’t think they will need long-term care

I do not have good products or solutions to offer them

Long-term care seems too far afield from the advising I do

Cost (vol.)

I don’t want to upset them with something that is depressing

I am not licensed to sell long-term care products

Other reasons


Advisors believe age 50 is the ideal age to plan for long-term care, but clients typically wait until age 65.

37

Q24. In terms of a client’s age, when do you think it is ideal to talk about long-term care planning? Q25. At what age, on average, do clients actually talk with you about long-term care planning? (500n)

When to Begin Long-Term Care Planning

50 years old

65 years old

0

20

40

60

80

Ideal Age When Clients Actually Start

Med

ian

Age

of

Clie

nt


Need for Long–Term Care Insurance

38

Advisor Survey


Nearly all advisors feel confident about the value of long-term care products for their clients.

39

Q41. How confident are you that: e. Long-term care insurance is in your clients’ best interest; f. Your clients need long-term care insurance; g. It is smart for your clients to have long-term care insurance? (500n)

It is smart for clients tohave long-term care insurance

Long-term care insuranceis in clients’ best interest

Clients need long-termcare insurance

6%

10%

10%

1%

1%

2%

45%

46%

50%

48%

43%

38%

93% confident

89% confident

88% confident

Not at all confident Not too confident Somewhat confident Very confident


Advisors agree that long-term care insurance gives clients peace of mind and more confidence about the future.

40

Q40. How much do you agree or disagree with each of the following statements: a. The cost of long-term care scares clients; b. My clients who have long-term care insurance feel more confident about their financial future. c. My clients who have long-term care insurance feel more peace of mind. d. Even for high net worth clients who can self-insure, long-term care insurance can provide leverage. (500n)

2%

3%

4%

10%

0%

1%

<1%

1%

48%

45%

50%

52%

50%

51%

46%

37%

Clients who have long-term careinsurance feel more peace of mind

The cost of long-term care scares clients

Clients who have long-term care insurancefeel more confident about their financial future

Even for high net worth clients who can self-insure,long-term care insurance can provide leverage

96% agree

96% agree

89% agree

98% agree



Advisors say more than half their clients should have long-term care insurance. Far fewer currently have it.

41

Q17. What percentage of your clients do you think: a. will need long-term care sometime; c. should have long-term care insurance? Q43. About what percentage of your clients currently have long-term care insurance? [BASED ON Q17C]

Client Need for Long-Term Care Insurance

56%50%

24%

44%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Should have long-termcare insurance

Expected to needlong-term care

Currently have long-term careinsurance

Mea

n P

erce

nta

ge o

f C

lien

ts


Clients without insurance can spend their savings 2–3 times faster than expected if long-term care is needed.

42

Q10. What is the average annual withdrawal percentage (%) for your typical client taking retirement income from their investment portfolio? (454n) Q44. [SKIP IF DON’T KNOW OR DO NOT USE THIS STRATEGY] Previously, you indicated that your typical client taking retirement income withdraws (INSERT RESPONSE FROM Q10) per year. If a client does NOT have a long-term care solution in place and experiences a long-term care event, what do you estimate that the new average annual withdrawal percentage from their portfolio will be? (424n)

5%

13%

0%

5%

10%

15%

20%

Typical client Client experiencingcare event without insurance

Mean Annual Withdrawal Rate from Portfolio


Three out of five advisors say that families are often devastated by the cost of long-term care.

43

Q23c. How much do you agree or disagree with each of the following statements: I often see families that are devastated by the costs of long-term care ? (500n)

“I often see families that are devastated by the costs of long-term care”

8%

32%

44%

16%

Agree strongly

Agree somewhat

Disagree somewhat

Disagree strongly

60%agree

40%disagree


APPENDIX

44


Demographics of Consumer Sample

45

(1,012n) (weighted)

AGE

Millennials (After 1980) 32%

Gen X (1965–1980) 27%

Boomers (1946–1964) 29%

Silent (1928–1945) 12%

GENDER

Male 48%

Female 51%

Transgender <1%

Do not identify as any of the above <1%

SEXUAL ORIENTATION

Heterosexual 94%

Bisexual 3%

Gay 2%

Lesbian 1%

MARITAL STATUS

Married 54%

Never married 28%

Widowed 5%

Divorced 11%

Separated 1%

RACE/ETHNICITY

White/Caucasian 65%

Hispanic 15%

Black/African American 12%

Asian or Pacific Islander 6%

Native American or Alaskan Native 1%

Mixed racial background 2%

Another racial or ethnic category <1%

REGION

Northeast 18%

Midwest 21%

South 37%

West 23%

CHILDREN (including adult children)

Yes 61%

No 39%

EMPLOYMENT

Employed 62%

Not employed 6%

Retired 25%

Student 2%

Stay-at-home spouse or partner 4%

HOUSING

Own 68%

Rent 27%

Neither 5%

HOUSEHOLD INCOME

Less than $25,000 14%

$25,000 to $49,999 22%

$50,000 to $74,999 19%

$75,000 to $99,999 14%

$100,000 to $149,999 17%

$150,000 to $199,999 7%

$200,000 or more 7%

INVESTABLE ASSETS

Less than $25,000 24%

$25,000 to less than $50,000 17%

$50,000 to less than $100,000 15%

$100,000 to less than $250,000 14%

$250,000 to less than $500,000 11%

$500,000 to less than $1 million 10%

$1 million to less than $2 million 5%

$2 million or more 4%


Profile of Advisor Sample

46

(500n)

BUSINESS MIX

Investment-focused 59%

Balanced 28%

Insurance-focused 13%

COMPENSATION MODEL

Asset management fees 50%

Commissions (insurance & brokerage) 45%

Planning fees 5%

NUMBER OF CLIENTS

<100 23%

100–250 36%

251–500 27%

501–750 9%

751–1,000 3%

More than 1,000 3%

AUM

Less than $1M 1%

$1M to <$5M 5%

$5M to <$25M 18%

$25M to <$50M 21%

$50M to <$100M 21%

$100M to <$250M 20%

$250M to <$500M 8%

$500M to <$1b 3%

$1b or more 2%

PRACTICE STYLE

Sole practitioner with staff 39%

Team-based practice (3+ members) 34%

Sole practitioner with no staff 27%

CHANNEL

Independent BD 45%

Wirehouse 13%

Regional BD 12%

Insurance BD 8%

Bank 6%

Insurance Carrier 6%

MGA/BGA 1%

RIA (vol.) 8%

Other 1%

GENDER

Male 81%

Female 19%

AGE

25–34 7%

35–44 19%

45–54 26%

55–64 32%

65–74 14%

75+ 2%


LincolnFinancial.com

47

About Lincoln Financial GroupLincoln Financial Group provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. Today, more than 17 million customers trust our retirement, insurance and wealth protection expertise to help address their lifestyle, savings and income goals, as well as to guard against long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. The company had $253 billion in assets under management as of December 31, 2017. Lincoln Financial Group is a committed corporate citizen and was named one of the Forbes Best Employers for 2017, is a member of the Dow Jones Sustainability Index North America, and received a perfect score of 100 percent on the 2018 Corporate Equality Index. Learn more at: www.LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn, and Instagram. Sign up for email alerts at http://newsroom.lfg.com.

About Versta ResearchVersta Research is a full-service market research firm, headquartered in Chicago, IL, specializing in customized strategic market research and public opinion polling. Learn more at: www.VerstaResearch.com.

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Documents

Part 1: 2017 Long-Term Care Research - lfgnewsroom.lfg.com/sites/lfg.newshq.businesswire.com/files/... · 2018-02-21 · LCN-1996835-011718 ©2018 Lincoln National Corporation Part