There are millions of older single women who are not planning for the very real risk of needing long-term care contends the director of the American Association for Long-Term Care Insurance.
“We are talking about women who are 60 or older and were never married, are divorced or widowed and there are millions of them,” shares Jesse Slome, Association director. Slome announced plans for a special agent webinar on July 12 that will explore an option for older women who are on their own.
“Older women who are alone face a double whammy,” Slome explains. “Women have the greatest risk of needing long-term care simply because they tend to live longer than men,” the expert notes. “But, women who are single, divorced or widowed tend to have lower incomes and retirement assets making traditional long-term care insurance difficult to afford for man.”
The webinar will focus on an available short-term care insurance policy now being offered by Standard Life and Accident. “We are going to explore how a 65-year old woman can pay $100 a month for $140,000 of benefits available for care in a nursing home or even for some care in their own home.”
Most traditional long-term care insurance policies today are purchased by couples, a trend Slome hopes to change. “The first step is educating insurance agents who for too long have overlooked this market or shied away from it because of the price of coverage.”
Slome is founder and director of the National Advisory Center for Short-Term Care Information an organization which advocates for greater consumer education and supports insurance professionals who market short-term care insurance products. For more information, visit their website at www.shorttermcareinsurance.org.
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