Probability of Purchasing a Hypothetical Long-Term Care (LTC) Insurance

This graph has been built with the data used in Chair working paper 17-01. It shows the probability reported by individuals that they would purchase a hypothetical long-term care (LTC) insurance product exhibiting the features described. This is not the proportion of respondents who said they would purchase the product, but rather the average probability attached by respondents to the potential purchase of the product described.

The 2,000 respondents to a Web survey carried out by the research team were members of a large, recognized web panel. They were 50 to 70 years old and resided in either Quebec or Ontario in late 2016. The “retired” status was self-reported by the respondents. The data are reported for men and women combined. A death benefit was also offered, but the data presented here abstract from it.

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