Sunday, July 29, 2012

Expert Shares Ways To Lower Long Term Care Insurance Costs

Many people have the mistaken impression that long term care insurance is costly declares one of the nation’s top experts in the field.  They simply are not aware of the simple techniques used by most consumers today to make the cost affordable.

“It’s smart to partially self insure,” explains Jesse Slome, executive director of the American Association for Long Term Care Insurance, the national organization that advocates for long term care.  “Using some your own money to pay for needed care is a way many people plan as a way to save on premiums.”   In this way you have a plan in place that will cover a portion of your care, at a smaller up front cost.

The longterm care insurance expert recommends consumers looking to save adjust the Elimination Period, or the waiting period from the point of claim until the policy begins to pay out benefits.  “Most people have a deductible for their car or health insurance,” Slome says.  “Most people today choose a 90-day deductible according to Slome.

According to Slome, most people are unaware that they will save by being in good health
when they apply for long term care insurance coverage.   Maintaining a healthy weight, having regular doctor visits and a good history and can significantly save on your policy.  “Best of all, once an insurer approves you for the good health discount, you never lose it,” Slome adds.

Be certain to ask the insurance professional what other discounts you may qualify for and be aware that they can vary from one insurer to another.  For example, Slome points out that you no longer need to be married or even live in the same household to receive discounts with family members or domestic partners.   A copy may offer a discount when you apply at the same time with another member of your family even if you live across the country.  Another insurer extends discounts to life partners as well as same sex couples.   “These discounts vary,” Slome acknowledges, “so it really pays to work with a knowledgeable long term care insurance specialist who has access to policies from multiple companies.”

The American Association for Long-Term Care Insurance is headquartered in Westlake Village, part of Los Angeles California, and serves the public by educating Americans about the importance of planning for the risk of needing long term care.

For additional information on long term care insurance costs or to connect with a specialist member of the Association call (818) 597-3227 or visit the organization’s website.

Friday, July 20, 2012

Long Term Care Insurance Video Addresses Essential Consumer Questions

The failure of healthcare reform to address the likely risk of needing costly long term care has driven an increasing number of consumers to seek other alternatives. 

“Obamacare dropped the planned long term care insurance program,” explains Jesse Slome, executive director of the American Association for Long-Term Care Insurance.  “Neither political party seems to have any desire to address the approaching tsunami of aging Americans that are going to need care.”

As a result, the organization has stepped up its consumer awareness and educational efforts.  “First, individuals need to understand the issue they face and the real choices they have,” Slome explains.  “We educated a generation that dependence on company pension plans was no longer a viable option and that saving for retirement through a 401k or IRA plan was smart and necessary.  Now we need to do the same for long term care.”

The Association director acknowledges that they are many misconceptions regarding long term health care insurance.    “Most people don’t even know when to start planning or how to begin the process of thinking about their options.   To assist consumers the organization has just posted several new educational videos.  The newest video just added to the organization’s online library is called Long Term Care Insurance 101 addresses why individuals should be interested.  “We want people to understand the important basics before they begin even considering next steps,” Slome says.

Members of the national association are offering free education and no-obligation long term care insurance costs for policies from leading insurance companies.  “We have members in all 50 states committed to helping individuals,” Slome explains.  “If someone between the ages of 50 and 65 is interested, they will take the time needed to explain how this insurance works and, if there is interest, to prepare free cost quotes.”

For additional information or to hear from a member of the Association call the organization’s national headquarters in Los Angeles at (818) 597-3227 or visit their website where consumers can also access a variety of free online consumer information guides.

Tuesday, July 10, 2012

Long Term Care Insurance Association Adds To Consumer Video Library

One of the most frequent questions pertaining to long term care insurance is the best age to apply.  To address that question, the American Association for Long-Term Care Insurance has added new videos to the organization’s Consumer Learning Center.

“We receive hundreds of inquiries each month from individuals confused about when to apply for this protection,” explains Jesse Slome, executive director of the Association.  “They hear wait until after retirement or start when you are 40.  It’s no wonder that people are confused and miss a most important fact about when to start the process.”

The Association created two new videos to help address important questions often raised by callers and those visiting the Association’s website.  “We just don’t have enough time to spend with each person answering their questions, so we attempt to address them all with short educational videos that are accessed via the Association’s website,” Slome notes.  According to Association data, the organization’s website gets as many as 45,000 visitors monthly seeking information.

The first of the two just-added videos focuses on the best age to apply for coverage with statistics from the organization’s 2012 Long Term care Insurance Sourcebook. 

A second consumer video focuses on tips and techniques consumers can utilize to obtain the best long term care insurance coverage for the most affordable premium.  “You only buy this protection once so you had better do it correctly,” Slome adds.  “Our mission is focused on bringing real, current and relevant information to consumers.  An educated consumer is a long term care insurance professional’s best prospect.”

The two videos can be viewed online.  The following are the links to the programs.