Long Term Care Insurance has a special significance to baby boomers. About 76 million children born between 1946 and 1964 are referred to as the Baby Boom generation. This generation represents roughly 28% of the population. By 2030 this generation reaches retirement and the senior citizens population will be nearly twice what it is today. The population of 85 and above will be more than 300% by 2050 according to demographic studies.

Even with wide spread attention to long term care insurance a majority of this generation has not purchased long term care insurance . 30% of this generation falsely believes that they have long term care insurance coverage. This year, 2010, the oldest boomers will turn 65 and the youngest in 2030. The youngest boomers will turn 85 around 2050 when the need for long term care services is felt the most.

Medical advances results in increased life expectancy which leads to increased dependency on long term care services. Home based informal long term care services is disappearing due to smaller family size, job related mobility, increased divorced rates and people choosing to remain single.

Baby boomers must make long term care insurance a key factor in their retirement planning. Recognizing the possiblity of needing long term care services and buying early a long term care insurance policy is integral to retirement planning. With long term care insurance baby boomers can rest assured that they will not become a burden to their family or the sate. Long term care insurance not only protects savings but gives this generation the freedom to choose the kind of long term care services they want and where they will receive it.