Insurance State Guaranty Updated Levels Posted By Long-Term Care Insurance Association
"Anyone with a bank savings account has heard of the FDIC which ensures that monies won't be lost if a bank fails," explains Jesse Slome, director of the long-term care insurance organization. "But few are aware that similar protection exists for consumers who purchase insurance policies and that includes long-term care insurance."
Insurance policy owners are protected by State Guaranty Associations that exist in all states. "Unlike the FDIC which has made their protection something consumers look for like the Good Housekeeping seal, insurance companies and even agents are not allowed to talk about the existence of these organizations,"
The Association has just posted a webpage providing some background information on the State Guaranty Association limits at https://www.aaltci.org/
Each state maintains an entity that oversees Life and Health insurance policies, that includes long-term care insurance. A separate entity protects property and casualty policyholders who have automobile, home or other policies.
To learn more, also visit https://www.aaltci.org/