Consumers who purchase insurance are not aware of important protections in the very rare case that an insurer faces financial failure shares the director of the American Association for Long-Term Care Insurance (AALTCI).

"Anyone with a bank savings account has heard of the FDIC which ensures that monies won't be lost if a bank fails," explains Jesse Slome, director of the long-term care insurance organization.  "But few are aware that similar protection exists for consumers who purchase insurance policies and that includes long-term care insurance."

Insurance policy owners are protected by State Guaranty Associations that exist in all states.  "Unlike the FDIC which has made their protection something consumers look for like the Good Housekeeping seal, insurance companies and even agents are not allowed to talk about the existence of these organizations," Slome notes.

The Association has just posted a webpage providing some background information on the State Guaranty Association limits that pertain to long-term care insurance.  "The rules are governed by each state and the limits vary from state to state," Slome shares.  "In California, the maximum limit of protection is $615,525 while in Florida, it's only $300,000."

Each state maintains an entity that oversees Life and Health insurance policies, that includes long-term care insurance.  A separate entity protects property and casualty policyholders who have automobile, home or other policies.

The American Association for Long-Term Care Insurance (AALTCI) advocates for the importance of planning and supports insurance professionals who market both traditional and hybrid LTC solutions.   To obtain long-term care insurance quotes call the organization at 818-597-3227 or visit their website at www.aaltci.org.