Long-term care insurance is becoming more expensive

Long-Term Care Insurance

Report shows the rising cost of insurance coverage in the US The American Association for Long-Term Care Insurance, an industry trade group, has released a new report concerning the rising cost of this type of coverage. Long-term care insurance can be used to cover the cost of medical care in a home or a nursing home. This coverage is meant to offset the cost of medical and care services that are offered to those with prolonged illnesses and chronic disorders. This coverage is somewhat common, but many people do not…

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Long term care insurance study shows women will soon pay much more

Long Term Care Insurance for women and men

At the same time, it has revealed that it is still possible to take advantage of savings for a short time. The American Association for Long Term Care Insurance has now released the results of a study that has investigated the cost of purchasing this coverage for single women, and the direction that it is taking. It found that women in half of the states still have a chance to save between 40 and 60 percent. The key to being able to benefit from these long term care insurance savings…

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Younger consumers are buying – and benefitting from – long term care coverage

Building Insurance Costs

Linked long term care coverage is starting to appeal to a younger audience due to claims with large payouts. In order to maintain coverage against the high costs of long term care, a growing number of national insurers are now offering a combination product that includes life insurance with the option for LTC benefits. This information was drawn from the 2012 Buyer Study, which was performed by the national trade group, the American Association for Long-Term Care Insurance. These products that offer linked benefits (also known as combination policies) are…

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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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Government Study Examines Long-Term Care Insurance Rate Increases – Only 1.6% Drop Coverage; 23% Actually Pay Less

PRESS RELEASE: A report released on August 16th by the U.S. Government Accountability Office (GAO) examines the impact of rate increases on long-term care insurance policyholders. Specifically, the report examines the Federal Long-Term Care Insurance Program (FLTCIP), the largest private long-term care insurance program in the nation. “As a voluntary plan consisting of typical employees, this is a most representative group,” states Jesse Slome, executive director of the American Association for Long-Term Care Insurance (www.aaltci.org), one of those interviewed by GAO staff preparing the study. “Instead of hyperbole, we now…

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