Long Term Care Insurance Association Promotes Future Purchase Option

LOS ANGELES - June 1, 2013 - PRLog -- A national awareness campaign will educate consumers about a newer long term care insurance planning option that can significantly reduce the cost of protection.

The American Association for Long Term Care Insurance http://www.aaltci.org/long-term-care-insurance announced plans today to initiate the campaign with the distribution of a national news release campaign promoting the advantages of considering the Guaranteed Purchase Option.

"The Guaranteed Purchase Option (GPO) allows more people to buy initial coverage that they can afford," explains Jesse Slome director of the American Association for Long-Term Care Insurance (AALTCI).   "While this option is growing in popularity, there is still little awareness of its existence and the potential benefits.

Also referred to as the Future Purchase Option, the feature allows individuals to lock in meeting the required good health qualifications along with the advantage of lower rates.  "Plus you still have the ability to increase coverage in future years; an extremely attractive combination of current and future potential benefits," Slome explains.

According to the Association's 2013 Long-Term Care Insurance Price Index, A married couple both age 60 would each pay less than $100 per-month for roughly $165,000 of immediate long term care insurance protection.   "Adding the GPO option increases the monthly cost about five dollars each," Slome says.  "The nominal amount provides enormous added value if they wish to increase their coverage in future years, especially if their health changes."  

"We are committed to educating both insurance agents as well as consumers," Slome adds.  "Not all long term care insurance policies offer the Guaranteed Purchase Option but the larger insurers do," Slome explains.  "Awareness and education is the first step to helping more people understand there are effective ways to reduce the cost of this important protection."

To receive a no-cost comparison of long term care insurance costs or to connect with a designated specialist, a member of the American Association for Long-Term Care Insurance, visit the organization's website http://www.aaltci.org or call 818-597-3227.