360° Coverage : 2013 Long Term Care Insurance Sales Trends Interpreted by...

1 Updates

2013 Long Term Care Insurance Sales Trends Interpreted by Association Exec

Aug 26 2013, 3:08am CDT | by PR.com

Nearly 100,000 Americans purchased long term care insurance policies during the first half of 2013 reports the director of the American Association for Long-Term Care Insurance.

Los Angeles, CA, August 26, 2013 --(PR.com)-- Simplistic reports of data regarding long term care insurance policy sales result in a misunderstanding of market trends says the director of the...

Filed under: news

YouTube Videos

 
 
 

51 weeks ago

2013 Long Term Care Insurance Sales Trends Interpreted by Association Exec

Aug 26 2013, 3:08am CDT | by PR.com

Nearly 100,000 Americans purchased long term care insurance policies during the first half of 2013 reports the director of the American Association for Long-Term Care Insurance.

Los Angeles, CA, August 26, 2013 --(PR.com)-- Simplistic reports of data regarding long term care insurance policy sales result in a misunderstanding of market trends says the director of the American Association for Long-Term Care Insurance.

"During the first half of 2013, nearly 100,000 individuals purchased traditional long term care insurance policies and tens of thousands purchased life insurance and annuity products that provide long term care benefits," declares Jesse Slome, executive director of the national long term care insurance industry trade group. Slome was responding to questions by executives who market long term care insurance following a report that industry sales had declined 20 percent during the second quarter of 2013.

"Several long term care insurance carriers are reporting sales increases of 20 percent or more, and no one cites that," Slome shared with the group. "Others experienced sales growth of between 10 and 20 percent. Overall sales were down due to several factors that impacted the first half of the year." Among those, Slome noted the failure of California's Department of Insurance to approve newer policy filings had impacted sales. "When the largest state in the nation has few options available, sales are going to be impacted."

The national long term care insurance expert pointed to the continuing trend among insurance companies to be more selective in terms of accepting applicants. "The knowledge gained over the past 20 years helps insurers understand long term health risks and to keep policy costs as low as possible which is what consumers want. As a result, they will reject more applicants with existing health issues," Slome explains. "That reduces the number of overall policies sold."

"Long term care is a universal issue facing Americans who are now living longer lives than ever but long term care insurance is not the universal solution," Slome stated to the executives. "There is a very defined market for this product but that is limited to those who can afford the premiums as well as meet the health qualifications when they apply."

"Those who advocate a new national long term care insurance program as part of Medicare have yet to make a proposal that has any semblance of reality," Slome concluded. "We don't see the American public or politicians for that matter ready at this point to add a new health care-related mandate or increase taxes, which leave families only three options; turn family members into caregivers, pay for care or have insurance to pay some of the cost of care."

For additional information or to request long term care insurance costs and information connect with a designated long term care insurance specialist who is a member of the Association by calling the organization at 818-597-3227 or visiting their website.

Contact Information:
American Association for Long-Term Care Insurance
Jesse Slome
818-597-3205
Contact via Email
www.aaltci.org

Read the full story here: http://www.pr.com/press-release/511964

Press Release Distributed by PR.com

Source: PR.com

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

Young Europeans less informed about 'legal highs': Survey
Brussels, Aug 22 (IANS) Young Europeans are less informed about "legal highs" and the effects of drugs compared to a few years ago, a survey said.
 
 
Two US Ebola patients released from hospital
Washington, Aug 22 (IANS) Two US aid workers who contracted the Ebola virus while treating patients in west Africa have been discharged from the Emory University Hospital in Atlanta, the hospital said Thursday.
 
 
US doctor with Ebola to be released from hospital
Washington, Aug 21 (IANS) An American doctor who contracted the Ebola virus disease while treating patients in West Africa will be discharged from a US hospital Thursday, the aid group he worked for said.
 
 
Bengal, Singapore to work on study paper on business: Mamata
Singapore, Aug 21 (IANS) The West Bengal government, in association with the National University of Singapore, will create a study paper with focus parameters to facilitate entrepreneurs, Chief Minister Mamata Banerjee said Thursday.
 
 
 

Latest from the Network

Red carpets make Ariana Grande 'anxious'
Los Angeles, Aug 22 (IANS) Singer Ariana Grande, who is due to attend the MTV Video Music Awards (VMAs) Sunday, gets nervous before such events. She says she is "working on" becoming the "best on the red carpet". "I'm...
Read more on Celebrity Balla
 
Hurley wants to keep son away from 'The Royals'
Los Angeles, Aug 22 (IANS) Actress Elizabeth Hurley says her new TV show "The Royals" is too racy for her 12-year-old son Damian to watch. The 49-year-old portrays British monarch Queen Helena in "The Royals" and...
Read more on Celebrity Balla
 
Adele to perform on 'The X Factor'?
London, Aug 22 (IANS) If all goes as "The X Factor" bosses are planning, award winning songstress Adele could be a major attraction of the live shows of the British version of the music reality show later this year. "...
Read more on Celebrity Balla
 
Syrian army kills 140 IS fighters
Damascus, Aug 22 (IANS) At least 140 fighters of the Islamic State (IS) were killed Thursday in an ambush by the Syrian army near an airbase in al-Raqqa province, a media report said. The Syrian army ambushed the...
Read more on Politics Balla
 
Daniel Radcliffe is learning Japanese
Daniel Radcliffe is learning Japanese. The 25-year-old actor has been taking lessons in order to speak the East Asian language fluently but he admits he is struggling with it at the moment. He said: ''I just started...
Read more on Celebrity Balla
 
Karrueche Tran not 'ready' for baby?
Karrueche Tran reportedly doesn't feel ''ready'' to have children with Chris Brown. The 25-year-old singer sparked rumors earlier this week he and his on/off girlfriend were trying for a baby, but friends of the 26-year...
Read more on Celebrity Balla
 
Wilmer Valderrama sends Demi Lovato romantic birthday message
Wilmer Valderrama sent Demi Lovato a romantic birthday message on Instagram yesterday (08.20.14). The 34-year-old actor, who likes to keep his relationship private, took to the social networking site in a rare show of...
Read more on Celebrity Balla
 
Taylor Swift and John Mayer ignored each other at restaurant
Taylor Swift and John Mayer reportedly ignored one another as they dined separately at the same restaurant last night (08.20.14). The former couple - who dated five years ago - allegedly avoided eye contact as they...
Read more on Celebrity Balla
 
Defeated Indonesian presidential candidate accepts court ruling
Jakarta, Aug 22 (IANS) Former general Prabowo Subianto accepted the final ruling of the Constitutional Court that has summarily rejected all his allegations that challenged the result of Indonesia's presidential race,...
Read more on Politics Balla
 
Local polls announced in Taiwan
Taipei, Aug 22 (IANS) Electoral authorities in Taiwan Thursday announced the island's local polls in which over 10,000 public officials will be elected Nov 29. The island, for the first time, will be concurrently...
Read more on Politics Balla