The number of individuals purchasing traditional long-term care insurance in 2020 declined from prior years according to the American Association for Long-Term Care Insurance (AALTCI).
"Some 49,000 individuals purchased a traditional long-term care insurance policy," shared Jesse Slome, director of the long-term care insurance organization. "Keep in mind that today, more people are opting for a linked-benefit product such as a life insurance policy that can also pay long-term care benefits."
Slome was sharing information with leading insurance professionals who educate consumers and offer long-term care planning solutions. "The decline of traditional policies has been steady since reaching a peak in 2000 and 2001 when over 700,000 new policies or group LTC certificates were purchased in a single year."
"The need for this important protection has not changed," Slome noted with the professionals. "Having more solutions available including some of the short-term care products is good for consumers and good for you."
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 costs from a Washington specialist call the organization at 818-597-3227 or visit their website.
Jesse Slome is director of the American Association for Long-Term Care Insurance. He also directs the American Association for Critical Illness Insurance and the American Association for Medicare Supplement Insurance. To find local Medicare insurance agents utilize the organization's free online directory.