Long Term Care Insurance Association Price Index Makes News

Los Angeles; January 15, 2014 –  News that rates for long term care insurance have actually declined has generated positive interest cites Jesse Slome, director of the American Association for Long-Term Care Insurance.  Slome was sharing information with members of the national trade group.

“Finally, some good news has been the reaction from insurance professionals,” says Slome, director of the long term care insurance association that has been releasing the findings of their 2014 Long Term Care Insurance Price Index.  “The past few years have seen news reports citing rate increases so any news regarding people paying less for this important protection is most welcome.”

According to the Association’s first release of their 2014 price study, The typical healthy 55-year-old male can expect to pay almost 15 percent less for long term care insurance coverage purchased in 2014 compared to last January.    ”Men have historically been resistant to purchasing long term care insurance,” Slome adds.  “So, perhaps this dose of good news will help address their denial of the reality of aging and the risk of needing costly care.”

The AALTCI study does reveal that couples face an increase in rates compared to costs in the prior year.   Leading insurers included in the study include Genworth Financial, John Hancock, Mutual of Omaha, Transamerica, New York Life and Northwestern Mutual.

The Association began releasing the findings via a national distribution supported by The National LTC Education center and HTA Financial Services, a leading long term care insurance brokerage firm headquartered in West Chester, PA.  “We sincerely appreciate their commitment to building the industry and to helping us disseminate this positive news,” Slome added.  He notes the news story has been utilized by nearly 400 media outlets.

Free access to read informational guides is available on the Association’s website.  To obtain long term care insurance costs connect with a professional by calling the national organization at (818) 597-3227 or visit the Association’s website at www.aaltci.org.


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