Long-term

The coming decades will be marked by an explosion in the number of Alzheimer's diagnoses, reinforcing the need for clients to invest in long-term care insurance products, according to re-insurer Munich Re, which hosted its second congress on long-term care insurance in Montreal last week. Citing a recent survey commissioned by the Canadian Medical Association, Munich Re said that four in five Canadians believe pressures exerted by the aging population will negatively impact the quality of healthcare services for seniors. Seventy two percent of respondents indicated they did not believe they have sufficient resources to maintain good health in the event of such a reduction in state-run healthcare, and consequently, 40% said they were ready to buy private insurance to compensate. And Alzheimer's is just the tip of the iceberg: several aging-related disorders can push your clients into long-term care (LTC). Virtually any condition that causes them to lose the ability to p…