With Americans having a deservedly heavy focus lately on Superstorm Sandy cleanup efforts and Tuesday’s huge election, long-term care insurance specialists have an even bigger challenge than usual this year in getting people to realize that November is Long-Term Care Awareness Month.
That’s not stopping the American Association for Long-Term Care Insurance, which sponsors the month, from trying. On Nov. 1, AALTCI Executive Director Jesse Slome kicked off a national consumer-focused campaign designed to heighten awareness of new provisions available from LTCI providers.
“Long-term care insurance is ‘new and improved’ with plan features and options that will make this important coverage more attractive and more affordable to larger numbers of individuals,” Slome says. “We will undertake an extensive national consumer awareness effort to explain important developments to consumers, especially those in their 50s and 60s who need to start planning for the risk of needing long-term care.”
Slome says that in addition to educating consumers, there is a need to educate the thousands of insurance and financial professionals who are not familiar with important industry developments designed to make coverage attractive in the new economy. Slome points to options that enable individuals to buy more affordable basic coverage and increase their benefits in future years. “Long-term care insurance used to be a one-and-done process,” he says. “Today, many will find it advantageous to take what I call a ‘layered’ approach, locking in some coverage now with the ability to add to their coverage in future years, even if their health has changed.”