Trends in long term care insurance purchasing are shifting

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According to the main industry association, people are choosing lower inflation growth options. The American Association for Long Term Care Insurance (AALTCI) has now reported on the outcomes of its 2014 study that has determined that buyers are significantly changing their buying patterns when it comes to this type of coverage. Previous years had seen customers purchasing choices that gave a 5 percent annual boost to initial benefits. However, according to Jesse Slome, the director of the association, “In years past consumers favored policies that included an option that increased…

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Most Asset Based Long-Term Care Purchases Are Over Age 65 – Two Thirds Of New Single-Pay Life+LTC Policy Sales Are Over $100,000

The sale of asset-based long-term care insurance protection grew significantly according to research by the American Association for Long-Term Care Insurance (www.aaltci.org) the national trade organization. According to data gathered from the industry’s leading insurers, premium in 2010 increased 79 percent compared to the prior year. The number of covered lives increased 83 percent. “Asset based or linked products are experiencing growth as they are highly suitable for a very specific consumer,” states Jesse Slome, AALTCI’s executive director. “Financial planners and investment professionals who may not like the more complex…

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