Los Angeles, CA - February 11, 2016 - Long term care insurance companies paid $8.15 Billion in claim benefits to 260,000 individuals in 2015 according to the American Association for Long-Term Care Insurance.
"Total benefit payments increased by nearly four percent and the number of long term care insurance policyholders on claim grew by roughly 10,000," reports Jesse Slome, director of the American Association for Long Term Care Insurance (AALTCI), the national trade group that reports annual claims data. In 2014, AALTCI reported total claims amounted to $7.85 Billion paid to some 250,000 individuals.
"Americans are living longer and often the result is a need for long term care," Slome explains. "The individuals who own long term care insurance policies benefit from the protection as do their families and loved ones." Without insurance to pay the cost, Slome acknowledges the caregiving responsibility often falls on elderly spouses or adult children of aging parents.
"Long term care insurance provides choice and control, while protecting your retirement plans and lifestyle," Slome adds. "It allows loved ones to care about you rather than being forced to care for you."
To compare long term care insurance costs connect with a designated professional by calling the national organization at (818) 597-3227 or visit the Association's website at www.aaltci.org.
The American Association for Long-Term Care Insurance is the national professional organization exclusively dedicated to promoting the importance of planning for long-term care needs.
The American Association for Long Term Care Insurance (www.aaltci.org) is the national trade organization focused on educating individuals about the importance of planning for the risk of long term care. The American Association for Medicare Supplement Insurance (www.medicaresupp.org( focuses on Medigap industry issues and helps link consumers with Medicare Supplement agents. The National Advisory Center for Short Term Care was established in 2015 to build awareness for the important role short term care insurance plays in protecting seniors.