“More consumers have been calling with questions about these increasingly popular options but they clearly don’t understand there can be significant differences between policy costs and benefits,” explains Jesse Slome, director of the American Association for Long-Term Care Insurance.  “Often they are presented with one plan option and that may or may not be the best option available for their future wants and needs.”

The Association has created a new presence on the organization’s website that spells out seven differences between available hybrid plans.

“Our goal is simply to make consumers aware of the differences,” Slome notes.  “You only buy long-term care insurance protection one time and so it is vital to get as much information as possible before you spend what can be a considerable amount of money.”

The long-term care insurance expert points out some of the significant differences include how one is ultimately paid benefits.  “Some policies offer a limp sum cash payment once you meet the claim qualifications,” Slome explains.  “Others are more restrictive and reimburse and may have requirements regarding who can provide care.”

Most hybrid long-term care policies are life insurance policies.  “The ability to have a death benefit paid to beneficiaries is something that makes these attractive to consumers,” Slome notes.  “One policy will provide a death benefit greater or equal to what you paid in. Another will have lower death benefit but higher LTC benefit amounts.”

To learn more about hybrid long-term care insurance visit the organization’s website.  The American Association for Long-Term Care Insurance advocates for the importance of planning and supports insurance professionals who market long-term care insurance.  To get information or request long-term care insurance quotes from a specialist in your area call the organization at 818-597-3227 or visit their website at www.aaltci.org.

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Until now, no single resource listing phone numbers for the Claims Departments of long-term care insurers has existed.

The American Association for Long-Term Care Insurance has just added such a directory to its website at http://www.aaltci.org/contacts

“The number of calls from frustrated policyholders kept increasing to the point that something needed to be done,” explains Jesse Slome, director of the organization.  “Many insurers with hundreds of thousands of in-force policies, no longer offer new coverage.  Many have outsourced their claims administration to third parties.  Consumers were getting the run around and that was not right.”

A need for care is just one reason frustrated consumers were calling the Association with queries.  “Due to rate increases, some policyholders dropped their coverage but still are entitled to a residual benefit,” Slome explains.  “Who keeps insurance policies for 10 or 20 years but with long-term care you need to know who to call and that’s printed on the policy.”

The American Association for Long-Term Care Insurance advocates for the importance of planning and helps consumers connect with knowledgeable professionals who are independent advisors.  The Los Angeles based organization conducts research and have the most comprehensive resources available on its website utilized by hundreds of thousands of consumers annually.

Consumers looking for local long-term care insurance agents or cost comparisons should visit the Association’s website at www.aaltci.org or can call the organization’s national headquarters at 818-597-3227.

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“More employers are offering long-term care insurance as a benefit to employees, family members and even retirees,” explains Jesse Slome, executive director of the national producer trade group.  “Conventional wisdom says that group insurance policies cost less than a policy you could purchase on your own but that is not always true for long-term care insurance.” 

According the the Association recommendations, with employer-offered long-term care insurance there are important factors consumers need to evaluate.  “By doing careful comparison shopping, you might find you are able to get equal or even better coverage for less money,” Slome acknowledges.  “A 55-year old couple could pay 25 percent less according to some current analysis.”

Over eight million Americans have long-term care insurance purchased either on an individual basis or through a group plan according to AALTCI’s 2011 Long-Term Care Insurance Sourcebook.  “Employers offering the coverage, typically on a voluntary basis, have been doing great work at expanding awareness for the importance of planning,” Slome adds.  “They are making coverage available to millions and offer coverage to many who might never health qualify for traditional individual long-term care insurance policy.”

As part of the awareness campaign, the Association launched a new online guide for consumers at http://www.aaltci.org/compare.  “We want to encourage anyone who is 50 or older to give serious consideration to planning for the risk of needing long-term care,” Slome concludes.  “If you plan to live a long life, into your 80s, 90s or even longer, you had better have a plan in place.”

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