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Industry Observes LTC Awareness Week

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America’s Health Insurance Plans today drew attention to Long Term Care Insurance Awareness Week with new data on lack of LTC insurance awareness.

The LTC public education week, endorsed by the U.S. House of Representatives, started Sunday.

Researchers at AHIP, Washington, today released results of a telephone survey of 2,000 U.S. boomers.

About 23% of the boomers interviewed have no private LTC insurance but believe that they do, AHIP officials report.

Perhaps because of that confusion, many boomers “aren’t factoring expenses for long term care into their retirement planning and are missing an opportunity to protect themselves,” says AHIP President Karen Ignagni.

Even among older boomers – those who are already 60 or 61, or who are nearing age 60 – only 25% said they are “very familiar” with LTC insurance, and 41% said they have not discussed LTC care at all in the past 12 months, AHIP researchers say.

In related news:

- John Hancock Life Insurance Company, Boston, a unit of Manulife Financial Corp., Toronto, is observing LTC Awareness Week with an educational program aimed at persuading producers to include LTC insurance in developing their clients’ overall financial plans.

Hancock is holding a series of Web seminars for licensed producers on its producer site, at Document Link

Hancock also is sponsoring a new client education Web site for the American Association of Long Term Care Insurance, Westlake Village, Calif., at Document Link

- Greylock Federal Credit Union, Pittsfield, Mass., is observing LTC Awareness Week by announcing that it will offer 10% discounts on LTC insurance from Berkshire Life Insurance Company of America, a subsidiary of Guardian Life Insurance Company of America, New York.

- The National Clearinghouse for Long Term Care Information, an arm of the U.S. Department of Health and Human Services, discusses LTC Awareness Week on its Web site, at Document Link


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