LTC in the News
The word is spreading. Major news outlets are letting the American people know the importance of long-term care planning. Are you? Here are a couple of recent third party articles.
- SeniorsMatter.com: The Aging in Place Home: The Bathroom
- ThinkAdvisor.com: Most Middle-Income Boomers Feel Unprepared for Retirement: Survey
Most LTCI Claims Begin and End at Home; Insurers Pay Out $8.65 Billion in 2016 Claims, New Data Confirms
The total of all benefits paid increased by over six percent and the number of long-term care insurance policyholders on claim grew by roughly 20,000,” reports Jesse Slome, director of the American Association for Long Term Care Insurance (AALTCI), the national trade group that reports annual claims data. In 2015, AALTCI reported total claims amounted to $8.15 billion paid to some 260,000 individuals, with the majority of claims beginning and ending in the home. Read more | View chart of LTC Insurance Claims Paid 2012-2016.
Hybrid Insurance Policies Gaining Steam
Consumers who are skeptical of traditional long-term-care insurance are snapping up “hybrid” policies combining life insurance with long-term-care benefits. But are these products really a better way to manage the risk of catastrophic long-term-care costs? Read more
Managing Long-Term Care Spending Risks in Retirement
The unknown cost of health care is among the most significant risks to any retirement plan. All retirees face the possibility of a debilitating illness that will require advanced and costly care over a long period of time. It is a source of anxiety for retirees, yet most are unwilling to accept the variable costs and potential loss of premiums paid under conventional health-based long-term care insurance products. And few have taken the necessary steps to understand the complete range of long-term care insurance product features and options available to them. Read more
A Simple Guide to Planning for a Loved One’s Long-Term Care
As we get older, so do our parents and other loved ones. In some cases, that may mean they’ll require long-term care, especially if they fall ill. When this happens, families are faced with a tough decision: hand over the reins to a nursing facility, or manage their care from the comfort of their homes. There’s no shame in either decision. But there are several important things to consider when planning for long-term care. Read more