Tuesday, June 23, 2009

New Consumer Guide Addresses Women's Long-Term Care Planning Issues

A new consumer guide to long-term care insurance protection has just been published by the American Association for Long-Term Care Insurance. The eight-page booklet specifically addresses the issues and options facing women.

"Women have a far greater risk of needing long-term care and indeed two-thirds of all long-term care insurance benefits paid in 2008 result from care needs by women," explains Jesse Slome, executive director of the national trade organization. "Women also tend to be the ones who initiate the long-term care planning discussion and often are the decision makers when it comes to purchasing long-term care insurance."

Several facts outlined in the "Woman's Guide To Long-Term Care Insurance Protection" authored by Jesse Slome: Women over the age of 65 comprise 980,000 nursing home residents in the U.S. Only 337,000 men over age 65 are in nursing homes. Women are far more likely to suffer from Alzheimer's Disease which is the cause of the largest and most costly needs for long-term care.

The guide addresses important planning considerations for women who have spouses or partners as well as women who live alone. "Each have very specific planning needs and issues," Slome explains. "Married women face a likelihood of providing care for their spouse, who typically is older, or facing a very significant annual bill for care." Women who live alone lack the spouse or extended family members to assist with caregiving.

Copies of the guide can be viewed on the American Association for Long-Term Care Insurance's website and may be purchased by insurance and financial professionals. To view a copy go to: http:www.aaltci.org/tools or call the organization at 818-597-3227.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.