Los Angeles, CA, February 13, 2012 --(PR.com
)-- This is the first generation of Americans to face the likelihood of living a long life, declares Jesse Slome, executive director of the American Association for Long-Term Care Insurance. As a result, few have any clue as to how to plan appropriately.
Slome will be speaking at a national conference this Tuesday in Las Vegas. "Remember how many mistakes you made when buying your first car," Slome explains. "You probably paid more than you should have and the same is true for the thousands of consumers shopping for long term care insurance protection every day."
Consumers have no experience purchasing long term care insurance protection and, as a result, many make mistakes that can be costly over time. "Today's long term care insurance policy is quite different from coverage offered a decade ago," Slome points out. "Insurers today offer a number of features and options that are not just extremely beneficial to consumers but can significantly reduce the cost."
Long term care insurance purchasing used to be a "one and done" process. "You purchased coverage and put the policy on the shelf," Slome notes. "But that can make the cost of protection higher especially for those in their late 40s and early 50s," he adds. Slome who is one of the nation's leading long term care insurance experts and has authored numerous books and guides on the topic, notes newer options exist today.
Many of the leading insurers offer a "Future Purchase Option" which allows you to review your coverage periodically and add to your protection. "You review your investments and insurance coverage periodically and the same is valid for long term care insurance," he explains. The key benefit of this option is both significantly lower premium costs as well as the ability to purchase additional coverage without the need to undergo additional medical exams.
Long term care insurance costs can vary significantly among insurers. "Virtually identical coverage from one insurer can be 40-to-60 percent higher than the same coverage from another top-rated company," Slome points out. The American Association for Long-Term Care Insurance www.aaltci.org offers consumers free over-the-phone consultations as well as access to their members who are designated long term care insurance experts who represent the top leading insurers. The Association offices can be reached by calling 818-597-3227.