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Follow on Google News | Free Online Guide Examines Long Term Care Insurance Cost SavingsAn online long term care insurance guide explains simple ways to reduce the cost of long term health care protection.
The cost variation is due to the fact that each of the leading insurance companies sets their own rates. "Every company has their sweet spots where they are the most competitive in terms of cost," explains Jesse Slome, executive director of the American Association for Long-Term Care Insurance http://www.aaltci.org. "The lowest cost may not be the best long-term buy but because switching rarely is advisable, it is important to shop around." Long term care insurance experts acknowledge that few consumers are aware of common discounts available that can significantly reduce the cost of the protection. "Some of the discounts will also vary from company to company," Slome explains. "While they may all offer the savings, the percentage discount offered may be quite different." Leading insurance companies offering long-term care insurance protection today include Genworth Financial, John Hancock, Mutual of Omaha and Prudential. "There are a number of significant companies like Transamerica, MedAmerica and LifeSecure that are leaders with very attractive and well-priced products as well," Slome notes. The Association recently reported that the number of Americans who would apply for new long-term care insurance coverage in 2011 would exceed 500,000. In 2010, some 475,000 purchased coverage according to the Long-Term Care Insurance Sourcebook, an increase over 2009. "More consumers in their 50s and 60s are clearly aware of the importance of planning," Slome notes, "and the risk of putting it off too long." A free online guide that explains available discounts and planning techniques that can help reduce the cost for long-term care insurance is now available on the Association's Consumer Information Center. "We believe helping educate more people is the first step to creating better understanding," To access the free guide go to: http://www.aaltci.org/ # # # The American Association for Long-Term Care Insurance http://www.aaltci.org is a trade organization. The Association's Consumer Information Center is the #1 source for information and can be accessed at http://www.aaltci.org/ End
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