National News Services Report Long Term Care Insurance Association’s Report

Leading national media, including print and television outlets, have reported a timely approach to long term care insurance planning being advocated by the American Association for Long Term Care Insurance.

Scroll down to see links to a few select media reports

“Things change and improve and that includes financial products such as long-term care insurance,” declares Jesse Slome, director of the American Association for Long Term Care Insurance.   “Consumers, especially those in their mid-50s to young 60s, will find the new options and innovations especially attractive.”

Consumer education and awareness is a primary objective undertaken by the Association director who just authored the sixth in a series of informative inserts being including in the upcoming edition of Kiplinger’s Personal Finance magazine.

“Price matters to everyone but the super rich and the strategy we focus on helps consumers understand ways to make this important protection fit within their available budget,” Slome noted.  The nationally-recognized long-term care insurance expert was referring to the “Good Better Best” approach he advocates.

The Association made national news this week when a news story focused on the innovative strategy went viral.  “It’s good knowing that millions are being exposed to the virtues of the ‘Good, Better, Best’ approach to long-term care planning,” the AALTCI director shared.  “it’s clearly a message that resonates because it gives people options as opposed to an approach that says here’s your plan, take it or leave it.”

Slome noted he was especially pleased to see the media interest in advance of Long-Term Care Awareness Month which occurs each November.  “This is the perfect kick-off to our on-going efforts to educate consumers about the importance of planning for the very real risk of needing extended care.”

Based in Los Angeles, the American Association for Long-Term Care Insurance was founded in 1998 to create heightened consumer awareness and to support insurance agents and financial professionals who market various products that address long term care expenses.

Yahoo Finance
http://finance.yahoo.com/news/good-better-best-long-term-141800646.html

Morningstar
http://news.morningstar.com/all/market-wired/MWR1153789US/good-better-best-long-term-care-insurance-approach-ideal-for-consumers.aspx

Marketplace
http://thenumbers.marketplace.org/publicradio/news/read/28539115/
 

Better Approach To Long Term Care Insurance Planning Advocated

When it comes to considering long term care insurance protection, price matters says the head of the American Association for Long Term Care Insurance, the nation’s advocacy group.

“Price matters to consumers and not recognizing that has held back sales of this all-important protection,” declares Jesse Slome, director of the American Association for Long Term Care Insurance. The Association director authored the just published Your Guide To Long-Term Care Planning.

“If price didn’t matter, we’d all be driving luxury sports cars and wearing solid gold Rolex watches, but price does matter to most people,” Slome noted. “When it comes to buying long-term care insurance, people understand the benefits of having this coverage but are sensitive to what protection will cost.”

Slome notes that too many existing press articles have created a misperception that coverage is costly. “It’s a vicious circle of reporting that coverage costs thousands which turns off potential buyers, leaving only those willing to buy a more expensive amount of coverage,” he explains.

The ‘Good, Better, Best’ approach to long-term care planning advocated by Slome and espoused in the new guide explains that some coverage is always better than no coverage and that today’s newer policies offer individuals in their 50s opportunities.

Paying $100 a month for long-term care insurance can get you a good base of protection that you can build on in future years,” Slome notes. “But you have to start looking at this when you’re in your mid-50s and can still take advantage of good health discounts and pricing advantages. Add to your coverage down the road when you are older and may be able to afford more.”

“The Good, Better, Best approach gives consumers choices and options because each individual situation is different,” Slome shares. ”It’s a far better approach today and we hope people come to realize that.”

The American Association for Long-Term Care Insurance was established in 1998 to create heightened awareness among consumers and to support insurance agents and financial professionals who market LTC solutions.

Long Term Care Insurance Association Reports Industry Claims Paid

In advance of November’s Long-Term Care Awareness Month, a report from the American Association for Long-Term Care Insurance is making national news.

“The nation’s long term care insurance companies pay $20.5 million a day in claim benefits,” declares Jesse Slome, AALTCI director. “We believe it is important for consumers to understand that claims are paid and consumers definitely get the benefit they sought when purchasing the protection.”

A national news story distributed by the Association reports that long term care insurers paid $7.5 billion in claims last year (2013) and highlights a Florida couple whose parents benefited from having long-term care insurance policies.  “They are just one example of the many people who are benefiting and that number will only grow as more policyholders age and start to need extended care,” Slome adds.

According to AALTCI, the news story has already appeared in MarketWatch, the online national resource for The Wall Street Journal, Reuters and some 300 additional media outlets.  “The Association works hard to educate consumers to the importance of long term care planning,” Slome notes.  “How to buy this coverage and showing that the policies actually deliver is an important component of that story.”

Slome, the creator of Long-Term Care Awareness Month, noted that November is a time when many agents will urge their clients to initiate planning for the eventual risk of needing extended care.

Links To News Stories:

MarketWatch (The Wall Street Journal)
http://www.marketwatch.com/story/long-term-care-insurance-industry-pays-205-million-in-daily-claim-benefits-2014-10-09

Miami Herald
http://markets.financialcontent.com/mi.miamiherald/news/read/28422286/Long_Term_Care_Insurance_Industry_Pays_$20.5_Million_In_Daily_Claim_Benefits

Reuters
http://www.reuters.com/article/2014/10/09/aaltci-daily-claim-idUSnPn1pgZ7s+84+PRN20141009

Long Term Care Insurance Association Director To Speak In Chicago

So much has changed about long-term care insurance except no one tells that to consumers according to one of the nation’s leading experts.

“So much has changed as a result of the Great Recession and that includes long term care insurance,” explains Jesse Slome, director of the American Association for Long Term Care Insurance.   Slome will travel to Chicago to speak to the staff of one of the nation’s foremost distributors of policies.

“Sales of long-term care insurance are slumping and a key reason is a lack of information and awareness of the important changes,” Slome adds.  “No body would pay seven percent for a 30-year mortgage today but that’s about what they cost in 2007.  Consumers understand that because of media and industry awareness efforts.  But when it comes to long term care insurance, it’s almost as if little has changed in the past few years.”

Slome will urge the Chicago audience to educate their markets to the fact that long term care insurance policies today are dramatically different than they were just a few short years ago.  “The new policies have options and features that consumers seek – affordability, options for future growth and flexibility in terms of care options,” Slome will share.  “Someone has to now create the understanding among prospects who want to plan for the very real risk of needing long term care.”

The national expert founded the American Association for Long-Term Care Insurance in 1998 to create heightened awareness and to support insurance agents and financial professionals who market LTC solutions.