Monday, March 26, 2012

Long Term Care Insurance Career Center Launched

An online Career Success Center has been established to attract individuals to a full or part-time career selling long-term care insurance. Launched by the American Association for Long-Term Care Insurance ( the Center aims to provide valuable information to those looking for a new career opportunity or those seeking a means of earning additional income.

“Selling long-term care insurance provides people with the opportunity to help individuals and their families and, at the same time, earn what can be a significant income,” explains Jesse Slome, AALTCI’s executive director. The Association created the online center as the result of increasing inquiries from individuals interested in learning more about career and sales opportunities.

According to AALTCI, over 1,000 people purchase long-term care insurance on a daily basis. “The need for this protection is growing and sales would be higher if there were more skilled people available to market the product to individuals and employer groups,” Slome admits. “The new center will provide meaningful but balanced information that will enable people to evaluate and decide if this is something they should pursue.”

The initial online center initially features a variety of audios addressing getting started in the business through what your first year should look like. “We also provide sales and marketing information for insurance professionals who have unsuccessfully tipped a toe into the pool but wish to learn how to be successful,” Slome adds. The organization plans to expand the center over time to address critical aspects for career success including the long-term care insurance industry’s first national job postings bulletin board.

Access to the online center is free of charge at Established in 1998, the American Association for Long-Term Care Insurance is the national trade organization exclusively focused on creating heightened consumer awareness and supporting insurance professionals who market long-term care solutions.

Monday, March 19, 2012

Pattern Predicts Dementia Onset And Long Term Care Need

According to the Alzheimer’s Association, mild cognitive impairment (MCI) is “a condition in which a person has problems with memory, language, or another mental function severe enough to be noticeable to other people and to show up on tests, but not serious enough to interfere with daily life.” This type of mental state is considered a risk factor for dementia, the longest and most costly of all long-term care needs according to the American Association for Long-Term Care Insurance.

Some scientists studies have found that about 10 percent to 15 percent of those with MCI will progress to dementia each year. The new study which appears in the September issue of the Archives of Neurology, sought to deterine if telltale signs within MCI could determine those individuals who would progress more rapidly to full-blown dementia.

Researchers collected data on people with mild cognitive impairment and evaluated these individuals using brain scans and cognition tests. Over the next two years of follow-up, some 25 percent of the individuals did go on to develop dementia.

The researchers noted that if an older adult is starting to display problems in daily life, such as problems shopping independently, problems managing their own finances, problems performing household chores, and problems maintaining their hobbies, they are more likely to develop a dementia within several years.

Dr. Ronald C. Petersen, director of the Alzheimer’s Disease Research Center at the Mayo Clinic in Rochester, Minn., agreed that, despite the lack of effective treatments, spotting Alzheimer’s disease early remains important. “If people in the family start to recognize a change in memory/learning patterns, that might be sufficient to identify someone who could develop Alzheimer’s disease,” Peterson said. “Don’t wait until the person is having trouble driving, is having trouble paying their bills or having trouble functioning in the community — that’s dementia,” he said. “This study tells us that we can identify important symptoms earlier and it may be worthwhile doing so.”

Monday, March 12, 2012

Small Business Owners Unaware of Long-Term Care Tax Deductions

The majority of small and mid-sized business owners are not familiar with the tax deductible benefits available when offering long-term care insurance plan to employees. According to one insurance company executive, tax-deductible long-term care insurance remains the best-kept secret and employers are missing out on billions of dollars of potential tax savings.

Federal and a growing number of states now offer tax deductions and tax credits for the purchase of long-term care insurance. The cost of coverage may be fully tax deductible to the business and a great deal of flexibility can be offered when initiating a plan. In addition, corporate pricing breaks of 5 percent to 10 percent, in addition to substantial spousal or couples discounts, are the norm.

According to the 2009 edition of A Business Owner’s Guide To Long-Term Care Insurance, any form of business ownership can enjoy deductions for a long-term care insurance premium. Benefits received are, as a rule, always tax-free. Premiums might be considered imputed income to an employee depending on how the company is held.

Insurers offer various forms of long-term care insurance plans designed specifically to meet the needs of either small or large employers. Policies can be personally owned but company-paid, thus staying with the insured after he or she leaves a company or retires.

Long-term care insurance offers great design flexibility for employers. For example, employers can pick and choose who participates in a plan. Properly done, there are no ERISA issues, unlike group health insurance, according to tax experts. These plans are often called “carve-outs” which allow employers to be “selective” when determining who would be covered under a long-term care insurance benefit.

Policy design provisions enable employers to pay premiums for fixed periods of time, at which point the policy is paid up for life. One of the significant benefits is that policy benefit amounts keep increasing under inflation protection options with no risk of future long-term care insurance rate hikes.

According to American Association for Long Term Care Insurance experts, policies available to employers may allow two spouses to share one benefit pool. This has the potential to double the benefit any single insured might have and eliminates much of the problem as it pertains to the benefit period chosen. At the death of one spouse, the other typically inherits the other remaining benefits free of charge.