Welcome!

News Feed Item

Long Term Care Insurance Prices Drop for Men, Rise Slightly for Couples

Costs for Identical Coverage Can Vary by 80-to-110 Percent According to American Association for Long Term Care Insurance 2014 Price Index

LOS ANGELES, CA -- (Marketwired) -- 01/10/14 -- The typical healthy 55-year-old male can expect to pay almost 15 percent less for long term care insurance coverage purchased in 2014 compared to last January. A 60-year-old married couple faces a seven percent increase according to a new analysis of prices.

"Compared to last year, costs for long term care insurance have risen slightly for couples, increased more significantly for single women but they have decreased for single men," reports Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI). The national trade group released the findings of their 2014 Long-Term Care Insurance Price Index.

The average cost for a 55-year-old male purchasing $164,000 of long term care insurance protection is $925 a year according to AALTCI. The same coverage for a single woman costs $1,225. "Women now pay more as several insurers introduced policies that take into account the increased risk of needing long term care services by women," Slome explains. "There are still some states where women pay the same as men."

A 60-year-old couple, each purchasing $164,000 of current protection that will grow to $730,000 combined when both reach age 80, will pay an average of $3,840 yearly, a three percent increase over the prior year. "Adding an inflation growth option builds your benefits over time but it can double the base cost of coverage," Slome adds. "Today there are other choices available that enable policyholders to add to their coverage in future years without such a dramatic increase in current costs."

The national long-term care insurance expert encourages a 'Good, Better, Best' approach to affordable long-term care insurance planning. "Better coverage today covers a significant share of the costs you'll face and capitalizes on some of the newer policy options offered," Slome clarifies. "Not all insurers offer options like the 'Guaranteed Purchase Option' that allows you to add to your coverage periodically, so comparison shopping makes more sense than ever."

Costs For Virtually Identical Coverage Vary By 80-To-109 Percent

According to AALTCI's 2014 Price Index, costs for virtually identical policy coverage vary significantly from one insurer to the next. "The typical difference is around 80 percent but in certain cases one insurer charged 109 percent more and both were industry leaders," Slome states. "We advise consumers that their most important decision is selecting the right professional to work with."

Slome explains that a long-term care insurance specialist will typically be appointed to compare policies from multiple insurance companies. The Association suggests three questions to determine an insurance professional's expertise. How many years have you focused on long term care planning? How many long term care insurance policies have you sold? How many long term care insurers are you appointed with?

Free access to read informational guides is available on the Association's website. To obtain long term care insurance costs connect with a professional by calling the national organization at (818) 597-3227 or visit the Association's website at www.aaltci.org.

AALTCI's 2014 Summit for insurance professionals will stream selected sessions online. For free access visit Virtual Insurance Conferences and Expos at www.insuranceexpos.com.

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2493113

Add to Digg Bookmark with del.icio.us Add to Newsvine

Jesse Slome
American Association for Long-Term Care Insurance
Email Contact
Phone: 818-597-3227

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Between 2005 and 2020, data volumes will grow by a factor of 300 – enough data to stack CDs from the earth to the moon 162 times. This has come to be known as the ‘big data’ phenomenon. Unfortunately, traditional approaches to handling, storing and analyzing data aren’t adequate at this scale: they’re too costly, slow and physically cumbersome to keep up. Fortunately, in response a new breed of technology has emerged that is cheaper, faster and more scalable. Yet, in meeting these new needs they...
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, provided an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data professionals...
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
The cloud competition for database hosts is fierce. How do you evaluate a cloud provider for your database platform? In his session at 18th Cloud Expo, Chris Presley, a Solutions Architect at Pythian, gave users a checklist of considerations when choosing a provider. Chris Presley is a Solutions Architect at Pythian. He loves order – making him a premier Microsoft SQL Server expert. Not only has he programmed and administered SQL Server, but he has also shared his expertise and passion with b...
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, contrasted how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He showed how the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He also demoed building immutable pipelines in the cloud ...
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...