April 17, 2014 -  The latest example of how a couple reduced their cost for  long term care insurance has been added to the American Association for Long Term Care Insurance Consumer Information Center.

"About one in five American adults smoke and, as a result, they will pay more for various insurance products including long term care insurance," explains Jesse Slome, executive director of the American Association for Long Term Care Insurance, a national trade group.  

"However, while some insurers charge around 10 percent more, others will charge up to 45 percent more for the same level of coverage."

An example of a real couple from Wisconsin has just been added to the Association's website sharing real examples of ways to reduce the cost or gain better coverage.   "The new feature on the Association's website has generated enormous positive feedback and has become one of the most highly read sections on our website," Slome adds.

"In this situation, the couple who were both in their late 50s received a recommendation for long term care insurance that would cost around $4,100 annually.   "While the policy was from a leading insurer, they decided to get a second opinion and requested information from a specialist who represented multiple long term care insurers," Slome notes.  "Unfortunately, the inexperienced insurance agent either did not know the company he recommended charged a significantly higher premium to smokers."

As a result, the couple were able to purchase a significantly higher level of long term care insurance benefits that actually cost them less money.   "A benefit of specializing in this business is not just knowing more about the products but knowing the significant pricing differences that really matter over many years."

"When starting the process of looking into long term care insurance, one of the most important decisions you'll make is deciding who to work with," Slome counsels.  The Association director suggests three questions to evaluate an insurance professional's expertise in the long-term care insurance field.  "Ask how many individuals they have helped get insurance, the number of years they have focused on LTC insurance and how many insurance companies they are appointed with," he advises.  "If an insurance broker is appointed with multiple companies, he or she will do the comparison shopping for you."

To learn more about long term care insurance savings ideas go to www.aaltci.org/ideas.  For no obligation cost comparisons or second opinions for long term care insurance costs from a designated specialist call the organization at 818-597-3227 or visit their website.