Los Angeles, CA, April 11, 2013 --(PR.com
)-- Comparing long term care insurance policy options has never been more complex according to one of the nation's leading experts.
"There are traditional long-term care insurance policies plus a whole new class of hybrid life insurance and critical illness insurance products all offering a form of long-term care protection," explains Jesse Slome, executive Director of the American Association for Long-Term Care Insurance. "The nuances between various long-term care options can be overlooked and making a mistake can be very costly to an individual and their family members when the time to claim benefits arrives."
Slome was sharing thoughts with insurance professionals considering the future of the long-term care insurance industry. "Americans understand that in the future depending on better, richer government benefit programs is foolish," Slome declared. "More people are planning for the eventual and costly risk of living a long life and needing long-term care."
Most insurance professionals today will say they can assist clients and prospects with their long-term care planning needs. "Most are familiar with one type of solution and maybe have access to one or two insurance policies," Slome explained. "What we are already seeing is a demand from consumers seeking experts knowledgeable in the various options and I believe that's where the greatest growth will come from in the years ahead."
The AALTCI director noted a growing interest in the life insurance products offering long-term care benefits. "Every time a financial consultant or stockbroker recommends the Lincoln MoneyGuard policy, the consumer goes online and starts researching the pros and cons of this option," Slome explained. "An insurance agent not able to discuss these products and compare their strengths and weaknesses compared to traditional long-term care insurance is missing out on where the market is moving."
Slome recommend that insurance professionals gain a comprehensive understanding and ability to help counsel and advise individuals. "When people have a serious medical condition they seek out a specialist and the same is increasingly true here," Slome noted. "Those who are specialists are already enormously successful and the trend will I predict continue. If you want to succeed, specialize," he advised the group.
To connect with a designated specialist for no-obligation long term care insurance costs from a member of the American Association for Long-Term Care Insurance visit the organization's website or call 818-597-3227.