The estimated lifetime risk for Alzheimer’s dementia at age 45 was approximately one in five for women and one in 10 for men according to the American Association for Long-Term Care Insurance (AALTCI). The risks for both sexes rise slightly at age 65.
“By 2050, the number of Americans age 65 and older with Alzheimer’s dementia may grow to 13.8 million.,” explains Jesse Slome, director of the long-term care insurance organization. “This represents a steep increase from the estimated 5.8 million Americans age 65 and older who have Alzheimer’s dementia today.”
The Association director was sharing the latest information with specialists who market long-term care insurance protection. ”The percentage of people with Alzheimer’s dementia increases dramatically with age,” he adds. According to Slome, some three percent of people age 65‐74 have Alzheimer’s dementia. The percentage rises to 17 for those between 75‐84 and 32 of those at age 85.
Slome noted that one option available enables the policyholder to begin with a lower growth rate and increase the level in the future. “Not all companies make an option like this available, which is one reason we strongly recommend working with a knowledgeable specialist who can compare multiple policies from multiple companies,” he adds.
The Association director announced creation of a new updated compilation of information regarding long-term care need. “So much information available for consumers is out-of-date,” he explains. “We are going to compile and post the most recent and relevant information as a benefit to consumers as well as insurance professionals.” Information can be accessed at www.aaltci.org/ltcneed.
The American Association for Long-Term Care Insurance (AALTCI) advocates for the importance of planning and supports insurance professionals who market different options including short-term care as well as both traditional and hybrid LTC solutions. To get information or request long-term care insurance quotes from a specialist in your area call the organization at 818-597-3227 or visit their website at www.aaltci.org.
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