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%].
A compilation of hundreds of facts, statistics and data compiled from numerous industry reports has been published in the first Long-Term Care Insurance Almanac And Book of Facts, made available from the American Association for Long-Term Care Insurance http://www.aaltci.org. The resource is intended to help insurance and financial professionals address the increasing number of questions raised by prospective clients and professionals who may refer clientele.
“As awareness grows so does the complexity of questions pertaining to long-term care and LTC insurance,” explains Jesse Slome, executive director of the Association. “We wanted one easy-to-use resource that an agent could leave with an inquiring prospect without having to do hours of research.”
The Long-Term Care Insurance Almanac divides information into six categories: Aging and Need, Home Health Care, Assisted Living, Nursing Home Care, Claims and Federal and State Protections. “Few, if any consumers considering long-term care insurance have heard of the State Guaranty Associations that exist for their protection,” Slome adds.
Much of the data comes from proprietary research conducted annually by the Association. “The rest comes from countless hours of reading detailed government studies and pulling the most relevant data that pertains to this field,” Slome notes. “While many acknowledge that inundating prospects with facts and figures isn’t an effective selling strategy, not being able to address questions with specific factual information will kill any chance of appearing as a knowledgeable expert,” Slome concludes. “The Almanac was created to remove that barrier.”
More detailed information regarding the Long-Term Care Insurance Almanac can be accessed via the Association’s website: http://www.aaltci.org/tools or by calling (818) 597-3227.
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