The stock market plunge could have a silver lining for insurance agents who market traditional long-term care insurance policies according to the American Association for Long-Term Care Insurance (AALTCI) director.

"The plunging Dow means millions of middle income Americans are seeing their accumulated savings plunge and they are going to be worried, more worried than they have been in over a decade," declared Jesse Slome, director of the long-term care insurance association.  "Many will see their secure retirement evaporating and that's a scary reality that millions face when these downturns occur and when the talk is all about impending recession."

Slome was sharing his thoughts with leading insurance professionals who market long-term care and short-term care insurance policies.

"I see several outcomes based on my many years in this industry," Slome noted.  "In recent years, a significant percentage of people seeking long-term care insurance were opting for linked-benefit products that combined life insurance with a potential long-term care payout," Slome explained.  "Many of these were being sold by financial advisors or stock brokers but when stock market chaos occurs they rarely are touting new sales because they have to field calls from worried clients watching their accounts drop in value."

The shift provides an opportunity for traditional agents who often market long-term care insurance policies.  "The need for a cost-effective long-term care plan is now greater because self-insuring is less viable when your retirement account has dropped by 10 percent or more," the noted long-term care expert advised.   "Project a cost that's affordable, say $150-a-month for a 65 year old male, and you'll find yourself talking to more people."

"When stock portfolios only go one way, up, it's natural for people to be lulled into thinking their future is secure," Slome added.  "But anyone who has lived through prior downturns knows that's not the case and that the only way to plan for the real consequences of living a long life is to have a solid plan in place.  Today, as before, that plan needs to include some way to assure monies are going to be available to pay for the very real risk of needing care in your own home, in an assisted living community or in a skilled nursing home.  That's where long-term care insurance comes in.

The American Association for Long-Term Care Insurance advocates for the importance of long-term care planning and helps consumers connect with knowledgeable professionals who are independent advisors.   Consumers looking for local long-term care insurance cost comparisons should visit the Association's website at www.aaltci.org or can call the organization's national headquarters at 818-597-3227.