Welcome!

News Feed Item

Long Term Care Insurance Savings Guide Published

Best Ideas for Reducing Costs and Securing Better Long Term Care Coverage Published Online by the American Association for Long Term Care Insurance

LOS ANGELES, CA -- (Marketwired) -- 05/22/14 -- Real life examples of ways people reduced costs when purchasing long term care insurance protection or secured significantly better benefits have been published.

"There are significant differences between long term care insurance policies, pricing, acceptable health conditions and benefits that few consumers are aware of," explains Jesse Slome, director of the American Association for Long Term Care Insurance (AALTCI), a national trade group. "For example, one insurer charges smokers 45 percent more than non smokers while another charges only 10 percent more. Many associations and membership groups promote special discounts but often you can get better coverage or even pay less if you shop around."

The Association's new online guide is designed to provide valuable information to individuals considering long term care insurance protection. "Every year some 250,000 people shop for long term care insurance protection for the first time," Slome notes. "Unlike car insurance or even most life insurance policies which are pretty easy to compare, long term care insurance policies can be quite distinctive. Your first decision is finding an expert who understands the differences and works on your behalf to recommend the best coverage for the least cost from a high-quality company."

"Much of the information about long term care insurance online is out-of-date and sometimes even erroneous," Slome adds. "To educate consumers and create heightened awareness we share current examples of real-life situations."

One example in the new guide tells how a Texas couple's financial planner was not familiar with the State-approved Long Term Care Partnership plan or the 'shared care' benefit that is especially valuable for married couples. Their financial planner recommended coverage costing $2,510-per year but the specialist showed how this couple could get coverage from the same insurer and pay $1,674-yearly, a 33 percent savings, the guide cites.

Existing health conditions account for up to 40 percent of policy applicants being declined for coverage according to AALTCI. "Insurers will check your medical records so don't expect to sneak by," Slome says. "But health conditions that are not acceptable to one insurer may be completely acceptable to another."

The Association guide shares how one man's heart condition did not prove a barrier. "In this case, the long term care insurance specialist had a direct channel to the insurance company decision maker who agreed to review the medical records," Slome adds. "Insurers get hundreds of applications daily and being able to get the special attention made all the difference."

How To Select A Long Term Care Insurance Specialist

The Association suggests three questions when seeking to identify long term care insurance expertise. How long has the individual been selling long term care insurance? "A minimum of three years is suggested, though five or more is going to be better," Slome notes. How many policies have they sold? "A long term care insurance specialist will have helped at least 100 individuals get coverage, though many will have helped 500 plus," he adds.

Most important, according to Slome, is determining if the financial advisor or insurance agent is appointed with multiple insurance companies. "Appointed is insurance jargon which means they can actually sell that company's policy," Slome explains. "Agents are only going to recommend and tell you about policies they can ultimately sell."

For no-cost advice or to compare long term care insurance costs and policies connect with a designated specialist by calling the American Association for Long Term Care Insurance at (818) 597-3227 or visit the organization's website.

To read the Association's Guide To Reducing Long Term Care Insurance Costs visit www.aaltci.org/ideas.

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2595277

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
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
Peak 10, Inc., has announced the implementation of IT service management, a business process alignment initiative based on the widely adopted Information Technology Infrastructure Library (ITIL) framework. The implementation of IT service management enhances Peak 10’s current service-minded approach to IT delivery by propelling the company to deliver higher levels of personalized and prompt service. The majority of Peak 10’s operations employees have been trained and certified in the ITIL frame...
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud...
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
Unless you don’t use the internet, don’t live in California, or haven’t been paying attention to the recent news… you should be aware that self-driving cars are on their way to becoming a reality. I have seen them – they are real. If you believe in the future reality of self-driving cars, then continue reading on. If you don’t believe in the future possibilities, then I am not sure what to do to convince you other than discuss the very real changes that will roll out with the consumer producti...
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...