Press release
New Long-Term Care Insurance Brochure Explores Claims Data
Eight million Americans currently own long-term care insurance and on any give day, roughly 150,000 are receiving claim payments for qualifying care.A new brochure published by the American Association for Long-Term Care Insurance http://www.aaltci.org provides a meaningful and current look at long-term health care insurance claims.
"So much has been written regarding the reasons to purchase this important protection," explains Jesse Slome, executive director of the national trade group. "But little deals with what happens when individuals eventually require benefits from their policy. What are the causes of claims and how long do they last?"
The brochure begins by dealing with what Slome calls the most-often asked question. "People are always asking, what's my real risk," Slome explains. "The truth is that everyone's real risk of needing long-term care is either zero percent of 100 percent, because for any one individual the averages are completely irrelevant."
According to the Association guide, the leading causes of long-term care insurance claims are Alzheimer's disease followed by stroke and arthritis. "Alzheimer's accounts for nearly one-third of claims for skilled nursing home care and about one in five home health care claims," Slome acknowledges.
While most claims begin after an individual has reached age 70, almost one in ten claims occur prior to that age. "The mistake people make is not looking into this coverage when they can still health-qualify," Slome explains. More than half of new individual policies are sold to individuals between ages 55 and 64. "That's the sweet spot when one definitely must act if they want long-term care insurance to be an option," Slome adds.
The guide goes into great depth exploring how long claims last based on different types of policies. "Today, many people are looking at more affordable forms of coverage," Slome notes. Policies generally provide a pool of benefit dollars that is arrived at by multiplying a daily benefit factor by a number of years. "Many people today look at a cash pool based on a 3-year timeframe," Slome explains.
The guide points out that one in 10 (10.9%) of policies offering a 3-year benefit actually paid benefits beyond the 36-month time period and only 8.0 percent actually exhausted their policy benefits.
Copies of the Association's eight-page guide can be requested from any of the organization's members. For more information visit http://www.aaltci.org/guide or contact the organization at (818) 597-3227.
The American Association for Long-Term Care Insurance http://www.aaltci.org is the national trade organization focused on educating individuals about the importance of long-term care planning. The Association's Consumer Information Center was voted the #1 source for information by consumer interest group rating and can be accessed at http://www.aaltci.org/long-term-care-insurance.
American Association for Long-Term Care Insurance
3835 E Thousand Oaks Blvd
Westlake Village, CA 91362
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release New Long-Term Care Insurance Brochure Explores Claims Data here
News-ID: 172175 • Views: …
More Releases for Slome
Millions Of Seniors Should Expect Significant 2025 Medicare Changes
Some 67 million Americans are enrolled in Medicare, according to the American Association for Medicare Supplement Insurance.
"It's important to know that some significant changes are coming in 202," explains Jesse Slome, director of the advocacy information. "These changes are likely to impact millions who will want to be ready to act when Medicare's Annual Enrollment Period (AEP) begins." AEP begins October 15th 2024.
According to Slome, the Inflation Reduction Act of…
Seniors Can Save On Medicare Prescription Drug Plans
The typical senior can save between $400 and $1,100 yearly by comparing and switching to a better Medicare prescription drug plan estimates the American Association for Medicare Supplement Insurance.
More than 50 million Americans now have Medicare drug plan coverage reports Jesse Slome, director of the Medicare insurance advocacy organization. "Unfortunately, far too few take advantage of the opportunity Medicare provides to find and switch to better coverage," Slome states.
Medicare allows…
Association Announces Senior Travel Discount Offers
A special 2024 $100 senior discount with two leading tour operators has been announced by the American Association for Medicare Supplement Insurance.
"Seniors are back to traveling the globe and this savings offer has been well received," explains Jesse Slome, director of the senior-focused insurance organization. Slome, himself, has just returned from a three-week tour to Japan.
The special discount enables seniors booking a first-time land tour or cruise with either Grand…
Directory Connects Seniors With Local Medicare Insurance Agents
A free online directory hosted by the American Association for Medicare Supplement Insurance connects seniors with local Medicare insurance professionals.
"Medicare is a national program but Medicare plan options are local," explains Jesse Slome, director of the national organization. "Finding the best Medicare option for your needs and budget is a lot more complex than just calling a toll-free number advertised on television."
According to the Medicare insurance expert, the typical seniors…
Seniors Urged To Compare All Medicare Insurance Options Before Deciding
When it comes to Medicare insurance options, seniors have more choices than ever. More options are resulting in more confusion and an increase in mistaken choices. An educational effort has been launched to help educate seniors who are eligible for Medicare.
"The typical senior has 100 or more different options to choose from," explains Jesse Slome, director of the American Association for Medicare Supplement Insurance. "While Medicare is a national program,…
Critical Illness Insurance Association Relaunches Website
The American Association for Critical Illness Insurance has relaunched the organization's website designed to create heightened awareness of and interest in cancer insurance as well as critical illness insurance.
"We intend for the new website to be the nation's primary and trusted resource for information," shares Jesse Slome, director of the organization first founded in 2009. "Millions of Americans between the ages of 35 and 55 could greatly benefit…