Hundreds of facts and statistics have been compiled from numerous industry reports to produce the first Long-Term Care Insurance Almanac and Book of Facts. The guide, produced by the American Association for Long-Term Care Insurance, will help financial and insurance professionals address the increasing number of questions raised by prospective clients.
"There’s some really good data all over the place but it’s exactly that, it’s all over the place. You can spend hours looking for the latest, most relevant information," says Jesse Slome, executive director of the Association. “We made this handy-dandy guide that addresses frequently asked questions so that you don’t have to dig for an hour.”
The Almanac divides information into six categories: aging & need, home health care, assisted living, nursing home care, claims and federal and state protections.
“What we wanted to do with the Almanac is deal with the most common questions and pieces of information that people want to know,” says Slome.
The book asks critical questions such as: What percentage of adults over age 65 will need between 2 and 5 years of long-term care after age 65? [Answer: 20%.] What percentage of assisted living residents transfer to a skilled nursing facility? [Answer: 58.9%.] What are the two largest causes for women's home health care claims on LTC insurance policies? [Answer: arthritis at 18% and Alzheimer's at 17%.]
The Almanac is posted on the AALTCI website. Members of the Association for Long-Term Care Insurance receive a complimentary paper copy.
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