The number of persons aged 80 or over is projected to more than triple by 2050 and to increase more than seven-fold by 2100 according to an UN report.
By 2050, 36.2% of the US population will be age 60+ with 8.3% age 80 and over.
A US Census Bureau report says the number of people globally aged 65 and over is expected to more than double by 2050.
The global population is aging at an unprecedented rate with 8.5% of people worldwide — or more than 600 million — now aged 65 and over, said the US Census Bureau report.
A 2012 US Congressional Report stated the aging of America will continue long after the Baby Boomer generation crests. This will pose a continuing economic challenge for both the American family and the nation for decades to come.
Many people have not saved for retirement adequately much less planning for Long Term Health Care that comes with aging.
Long Term Care Insurance has become an ever increasing option to plan for the financial costs and burdens of aging.
The American Association for Long Term Care Insurance (AALTCI), a national consumer advocacy and educational organization, reported the six leading Long Term Care insurance companies recorded increased policy sales in 2015 compared to their sales during the prior year.
First the full news story here: http://www.longtermcareplanningnews.com/article?article=162
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The best time to start planning is in your 40sand’ 50’s when your good health and low premiums give you the most choices. Addressing the financial costs and burdens of aging should be a key part of your retirement plan.