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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