Long Term Care Insurance Producers Group Reaches Milestone

The nation’s largest online networking, learning and discussion group hosted by the American Association for Long Term Care Insurance has surpassed the 5,000 member mark.

“This is a significant milestone that we are very pleased to have achieved,” declares,” explains Jesse Slome, executive director of the American Association for Long Term Care Insurance, a national trade group. Slome created the discussion group and serves as the online moderator and host.

“Insurance professionals need a way to get information and answers from other peers without a barrage of promotional messages and ads,” Slome notes. “We don’t allow any of that which keeps the information very focused on what participants want; to share insights and to rapidly get answers to their difficult questions.”

The Association utilizes Linkedin to host the group offering free access to any insurance or financial professional seeking to know more about long term care insurance or long term care hybrid products. "Linkedin is the place where professionals network and with some 300 million participants it’s a most viable platform today.”

Access to join the group is available to any insurance professional with a personal Linkedin profile. “Simply do a Group search for the term Long Term care Insurance Professionals and request to join,” Slome shares. The Association hosts a second growing group exclusively focused on Medicare Supplement insurance marketing and sales.

Consumer Long Term Care Insurance Savings Idea Posted By AALTCI

June 5, 2014 –  Was it ‘bait and switch’ or just an uninformed insurance agent asks the latest example of ways consumers can save posted to the American Association for Long Term Care Insurance Consumer Information Center.

“Consumers need to understand that rates quoted by insurance agents are not binding until confirmed by the long term care insurance company,” explains Jesse Slome, executive director of the American Association for Long Term Care Insurance, a national trade group.   ”If an agent quotes the lowest rate and you don’t meet the health requirements, you will need to pay more or reduce your benefits.”

Slome notes that consumers calling the organization are confused and often upset with what they perceive as a bait and switch approach.  “It’s most likely just an agent unfamiliar with the current health requirements, but that matters little to the consumer facing paying more money than they expected,” Slome notes.

The Association shares an example of a real single woman from Kansas who was quoted coverage at the best rate.  “When she called a long term care insurance specialist for a comparison quote, the specialist did not believe she would qualify for that rate from that particular insurer,” Slome adds.  “She’d likely have to pay at least 11 percent more yearly.”
The story had a happy ending for the consumer.  The specialist was able to have her qualify for equal coverage with another insurer .  “She got the same protection and wound up paying 36 percent less,” Slome adds.

Requesting a comparison proposal proved beneficial according to the real example.  ”If you have been prescribed medications, even if you don’t currently take them or have health conditions that will be found when your medical records are examined, it really pays to seek a comparison,” Slome suggests.”

“When starting the process of looking into long term care insurance, one of the most important decisions you’ll make is deciding who to work with,” Slome counsels.  The Association director suggests three questions to evaluate an insurance professional’s expertise in the long-term care insurance field.  “Ask how many individuals they have helped get insurance, the number of years they have focused on LTC insurance and how many insurance companies they are appointed with,” he advises.  “If an insurance broker is appointed with multiple companies, he or she will do the comparison shopping for you.”

Long Term Care Insurance Rate Increase Misperceptions Are Leading Agent Concern

A significant percentage of consumers now hold a mistaken perception that costs for all long term care insurance policies will increase yearly and that is a major concern among leading insurance specialists polled by the American Association for Long Term Care Insurance.

“So much media attention has been given to increases on older long term care insurance policies that it’s understandable why consumers assume policies purchased today will similarly be impacted,” explains Jesse Slome, executive director of the American Association for Long Term Care Insurance, a national trade group that polled leading long term care insurance specialists.

According to feedback from participants in the Association’s survey, consumers interested in long term care insurance believe they’ll experience annual increases that can be as much as 50-to-90 percent.   “This is of course not the case,” Slome explains, “but overcoming perception when you are in a defensive position is difficult to accomplish.”  The Association hopes to develop consumer educational material that explains the increase that has affected older long term care insurance policies.

“The mistaken perception is definitely a barrier to people purchasing this important protection and unfortunately their fears are unfounded,” Slome adds.  “Policies sold today inherently have little risk of future rate increases so it is important to explain why the past does not predict the future and government regulations provide important protection for concerned consumers.”

Consumer Long Term Care Insurance Savings Idea Posted By AALTCI

Was it ‘bait and switch’ or just an uninformed insurance agent asks the latest example of ways consumers can save posted to the American Association for Long Term Care Insurance Consumer Information Center.

“Consumers need to understand that rates quoted by insurance agents are not binding until confirmed by the long term care insurance company,” explains Jesse Slome, executive director of the American Association for Long Term Care Insurance, a national trade group.   ”If an agent quotes the lowest rate and you don’t meet the health requirements, you will need to pay more or reduce your benefits.”

Slome notes that consumers calling the organization are confused and often upset with what they perceive as a bait and switch approach.  “It’s most likely just an agent unfamiliar with the current health requirements, but that matters little to the consumer facing paying more money than they expected,” Slome notes.

The Association shares an example of a real single woman from Kansas who was quoted coverage at the best rate.  “When she called a long term care insurance specialist for a comparison quote, the specialist did not believe she would qualify for that rate from that particular insurer,” Slome adds.  “She’d likely have to pay at least 11 percent more yearly.”

The story had a happy ending for the consumer.  The specialist was able to have her qualify for equal coverage with another insurer .  “She got the same protection and wound up paying 36 percent less,” Slome adds.

Requesting a comparison proposal proved beneficial according to the real example.  ”If you have been prescribed medications, even if you don’t currently take them or have health conditions that will be found when your medical records are examined, it really pays to seek a comparison,” Slome suggests.”

“When starting the process of looking into long term care insurance, one of the most important decisions you’ll make is deciding who to work with,” Slome counsels.  The Association director suggests three questions to evaluate an insurance professional’s expertise in the long-term care insurance field.  “Ask how many individuals they have helped get insurance, the number of years they have focused on LTC insurance and how many insurance companies they are appointed with,” he advises.  “If an insurance broker is appointed with multiple companies, he or she will do the comparison shopping for you.”

Always Looking for New Content and Information

I am always looking for new resources and content to be added to my blog. If you have any resources or content that you think would be of value and importance to my readers please forward to my email address as shown on the left side of my blog.

In the meantime I want to thank all my weekly readers and my goal is to give you the best and latest information on the subject of Long Term Healthcare Insurance.