Newer Long Term Care Insurance Inflation Options Worth Considering

long term care insurance costs read free guides at

long term care insurance costs read free guides at

Los Angeles; August 11, 2013 – Many consumers are not aware that adding previously popular inflation options can significantly increase the cost of long term care insurance policies.  They are unaware of newer options that will reduce their cost and can be excellent choices notes the head of the American Association for Long-Term Care Insurance.

“The yearly cost of many care services have not increased as much as people perceive,” explains Jesse Slome, executive director of the long term care insurance industry trade group.  “What will happen in the years to come is anyone’s guess but today many people forgo buying long term care insurance because the price of a policy including a yearly five or even three percent increase in benefits is way too costly.”

The national long term care insurance planning expert advocates a ‘Good, Better, Best’ approach to considering how to deal with the future risk of needing long term care services.   “The first thing to understand is that people buy long-term care insurance to receive care at home and to avoid going into a nursing home, so all the studies that report how much care costs in a skilled facility really have far less relevance,” Slome declares.

According to the 2014 Long-Term Care Insurance Sourcebook, a publication produced by the industry trade group, costs for home care have grown by just over one and a half  percent annually.  “People should buy some long term care insurance so that they avoid turning family and loved ones into permanent caregivers, but they probably have some money and savings that they can use to pay some of the costs,” Slome adds.  “If you are willing to co-insure the risk the same way you co-insure your health insurance, you’ll greatly reduce the cost of long-term care insurance. ”

Slome notes that newer policies for individuals offer some highly attractive cost saving options.  “We often advise people in their 50s to look at the Guaranteed Purchase Option,” Slome says.  “This allows you to lock in your health insurability today with some excellent protection that you can add to down the road if and when your health changes.”  The expert notes that not all insurers offer this option today and the provisions can vary significantly.

If you are going to shop for long term care insurance this summer, the long term care insurance expert suggested three questions to determine the expertise of the insurance professional you are working with.  “Ask how many people they have protected with a long term care insurance policy, how many insurers they are appointed with and what percentage of their business is focused on long term care,” Slome advised.

The American Association for Long-Term Care Insurance advocates for the importance of long term care planning and supports insurance professionals who market the complete range of planning products.

Consumers interested in learning more about long term care insurance protection can read four consumer guides providing helpful information on planning and reducing long term care insurance costs.  They can be accessed on the Association’s website at and no information is required to access these guides.  To connect with a designated long term care insurance professional, a member of the Association, for information and no-obligation cost comparisons call the organization’s at 818-597-3227.

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