According to Council of Life Insurers Research findings between 1946 and 1964 approximately 776 million babies – the baby boomers – were born within the United States. The baby boomers lived in some of the most prolonged periods of steady economic expansion during U.S. history and have had a significantly more comfortable lifestyle than previous generations.
Boomers constitute a significant portion of the overall population (roughly around 28 percent) and are expected to soon join the ranks of seniors as they enter retirement. You can contact https://www.jonpurnell.co.uk/long-term-care for long-term care planning.
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By 2030, the time the younger boomers retire the number of seniors will double from what it is now. In 2050, by the time the youngest of the remaining boomers reach 85, the number of the elderly (those who are 85 or over) will have increased by over 300 percent.
Baby boomers, who don't have a plan for long-term care may have to make poor decisions. Although long-term care insurance is increasing in popularity the vast majority of boomers who could afford to buy a policy haven't yet taken the plunge. According to a study by the American Health Insurance Plans (AHIP), 30 percent of Boomers believe they have long-term health insurance.
Boomers aged 65 and older will reach 65 this year, in 2010 and the youngest will be born in 2030. In 2050, the youngest boomers who survive will be 85 years old, which is roughly the age when long-term care will be most needed. The advancements in medical care and increased prosperity in the present are leading to a rise in life expectancy for the elderly.