Finding Long Term Care Insurance Locally
Some 400,000 Americans purchase long term care insurance coverage annually and 8.25 million already own this protection. "This is really the first generation of Americans who are buying long term care insurance in large numbers," explains Jesse Slome, executive director of the American Association for Long Term Care Insurance, the industry's trade organization. "Most people are not sure what to ask or how much coverage really costs."
The cost for long term care insurance is determined by the amount of protection purchased, your age when applying and your health. "What people pay can vary quite significantly," Slome explains. "Last year, individuals between ages 50-to-54 paid as little as $989 to as much as $6,407-a-year for coverage according to our research."
"The best way to make sure you are getting the best coverage for the lowest price is to speak with a knowledgeable insurance professional," Slome notes. To make it simpler for individuals to find long term care insurance specialists in their local area, the organization has expanded the nation's largest online database of local long term care insurance professionals.
Each insurance company establishes rates for coverage and various discounts are available. "The rates can vary quite significantly from one insurer to another," Slome notes. "Our studies show that you could literally pay double for virtually the same protection." Insurers also make available discounts for those who are in good health. "Acceptable health conditions also vary for those who are not in perfect health," Slome adds.
To find local long term care insurance professionals in your area, visit the American Association for Long Term Care Insurance's website: http://www.aaltci.org/. The new feature allows consumers to enter their Zip Code to identify and contact professionals in their immediate area. The Association's website features the nation's most comprehensive Consumer Information Center dedicated exclusively to long term care insurance information.
"Every agent committed to serving consumers should be willing to answer questions and provide information without any pressure or obligation," Slome says. "When it comes to long term care, we urge all Americans to plan because as the saying goes, a failure to plan is a plan for failure."