openPR Logo
Press release

New Long-Term Care Insurance Brochure Explores Claims Data

04-26-2011 08:41 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Association Marketuing

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: 1764

More Releases for Slome

Families Urged To Discuss Long Term Care Planning Over Thanksgiving
Thanksgiving weekend is one of the few times during the year when several generations of family members gather and is the ideal time to discuss important topics. "As Americans live longer lives, it is more vital than ever for families to address vital issues including long term care planning," explains Jesse Slome, executive director of the American Association for Long-Term Care Insurance http://www.aaltci.org. The national trade group established November as
Significant Cuts To Medicare Nursing Home Payments Set
Under a corrective proposal issued by the federal government last week, Medicare payments to nursing homes would be trimmed by 11.1% beginning October 1 according to Jesse Slome, executive director of the American Association for Long-Term Care Insurance. Slome noted that the reduced funding was the result of a finding that revealed nursing home care providers have been paid more than $2 billion above federal projections since a new payment system
Critical Illness Insurance Association Launches New Consumer Education Website
Some 1.5 million Americans will be diagnosed with cancer this year and over 785,000 will have a first heart attack. Most will survive however significant illnesses are now the leading cause of financial hardship and bankruptcy. "Most people today survive cancer, heart attacks and strokes, but you can not say the same for their finances," declares Jesse Slome, executive director of the American Association for Critical Illness Insurance http://www.criticalillnessinsuranceinfo.org the
Voices.com Will Host Voice Over Demonstration Booth at SLOME 2011
Voices.com will be setting up an interactive display booth at the Skills London Oxford Middlesex Elgin (SLOME) event for London, ON area students. SLOME is presented by the Elgin Middlesex Oxford Workforce Planning and Development Board on Monday May 11 from 8:00am - 3:30pm at the Western Fairgrounds, Agriplex Building. Visitors to the Voices.com booth will have the opportunity to test-drive what it’s like to be a voice actor by participating in
Free Insurance Sales Training Launched By Critical Illness Insurance Trade Group
There's really no explanation why critical illness insurance sales continue to lag in the U.S., declares Jesse Slome, executive director of the American Association for Critical Illness Insurance http://www.criticalillnessinsuranceinfo.org. According to Slome, the protection first introduced in 1983 now sells well in 54 other countries worldwide. "There are over 65 million Americans between the ages of 30 and 49, creating an enormous opportunity for the sale of critical illness insurance
Free Long-Term Care Insurance Cost-Reducing Guide Offered By Trade Group
The nation's leading health and aging experts predict that the number of individuals needing the type of care categorized as long-term care will explode in the next decade. "You have 76 million baby boomers who are just starting to turn 65," explains Jesse Slome, executive director of the American Association for Long-Term Care Insurance www.aaltci.org, the leading industry trade organization focused on educating Americans on how to plan for the looming