Los Angees, CA, July 24, 2012 --(PR.com
)-- Over 300,000 individuals purchased long term care insurance protection in 2011 and according to one of the nation’s leading experts most initiated the conversation with their insurance or financial professional.
“Long term care planning is an emotional topic and long term care insurance can be most complicated,” explains Jesse Slome, executive director of the American Association for Long-Term Care Insurance. “As a result, very few insurance or financial professionals have the knowledge to bring up the topic for fear of being asked questions they are unable to answer. Most discussions today are initiated by the prospective buyer.”
To help consumers identify long term care insurance professionals the trade group has expanded their online directory of agents knowledgeable in the design of plans and products currently available. “We give consumers seeking in formation the ability to find a knowledgeable expert,” Slome acknowledges. Some 50,000 individuals visit the organization’s website monthly.
Roughly a dozen insurance companies offer long term care insurance protection today, though the differences can be significant. “Almost identical coverage from two companies can vary between 50 and over 90 percent,” Slome acknowledged. “And, if you have some health conditions or take some prescription medications, each company has different health standards in terms of who they will insure and who they won’t.”
The Association’s website because the insurance can be As a result, the organization has stepped up its consumer awareness and educational efforts. “First, individuals need to understand the issue they face and the real choices they have,” Slome explains. “We educated a generation that dependence on company pension plans was no longer a viable option and that saving for retirement through a 401k or IRA plan was smart and necessary. Now we need to do the same for long term care.”
The online directory lists members of the national association who offer free education and no-obligation long term care insurance costs for policies from leading insurance companies. “Every once in a while we hear about an agent who wants to charge to work with consumers,” Slome concludes. “Our designated LTC specialists provide everything free of charge. They will take the time needed to explain how this insurance works and, if there is interest, to prepare free cost quotes.”
For additional information or to hear from a member of the Association call the organization’s national headquarters in Los Angeles at (818) 597-3227 or visit their website www.aaltci.org where consumers can also access a variety of free online consumer information guides.