PR.com January 16, 2020
The
number of Americans who have some form of long-term care insurance now totals
7.5 million according to new data from the American Association for Long-Term
Care Insurance.
Los
Angeles, CA, January 16, 2020 --(PR.com)-- Roughly 7.5 million Americans
currently have some for of long-term care insurance protection in according to
the American Association for Long-Term Care Insurance (AALTCI).
"These
individuals have taken steps to plan for the very real risk of one day needing
long-term care," explains Jesse Slome, AALTCI's director. "They don't
want to depend on loved ones and family members, they don't want to turn to
taxpayer funded programs like Medicaid and they want insurance to share all or
some of the cost for care at home or in a skilled nursing facility."
The
Association released it's report of the number of individuals who are presently
covered by a traditional long-term care insurance policy or one of the
increasingly popular forms that range from life insurance to annuities that
include a benefit payment for long-term care needs.
"There
are millions of Americans who currently need long-term care who do not have a
plan in place," Slome notes. "Too often they have turned spouses or
family members into unpaid caregivers, or they will spend their own savings or
completely forgo care because they are worried about outliving their retirement
savings."
Long-term
care insurance is not an option for everyone Slome admits. "You must be
the right age to apply for coverage which typically means you are between ages
55 and 69. You must also be in reasonable health, because insurers today will
look at your health and can determine who is more likely to be needing care a
decade or so into the future."
The
typical applicant for long-term care insurance today is age 57 according to
another study by the long-term care insurance group.
The
latest data on long-term care insurance can be found on the Association's
website. Go to www.aaltci.org/long-term-care-insurance/learning-center/ltcfacts-2020.php to
see studies for 2020.
The
American Association for Long-Term Care Insurance advocates for the importance
of long-term care planning. Established in 1998, the organization connects
consumers with knowledgeable professionals who are independent advisors for
no-cost, no-obligation long-term care insurance costs quotes and policy
comparisons.
Contact
Information:
American Association for Long-Term Care Insurance
Jesse Slome 818-597-3205
Contact via Email
www.aaltci.org
American Association for Long-Term Care Insurance
Jesse Slome 818-597-3205
Contact via Email
www.aaltci.org
Read
the full story here: https://www.pr.com/press-release/803408
Press
Release Distributed by PR.com
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