Released on = December 28, 2006, 9:33 pm

Press Release Author = Jesse Slome

Industry = Financial

Press Release Summary = First national study examines percentage of applicants
approved for long-term care insurance protection.

Press Release Body = A new report reveals an important reason for individuals to
consider ways to finance potential long-term health care needs while in their 50s.
The study conducted by the American Association for Long-Term Care Insurance
(AALTCI) examined the percentage of long-term care insurance applicants who qualify
for preferred health discounts.
"Individuals who are in good health qualify for discounts that reduce the cost of
long-term care insurance by 10 to 20 percent each year," explains Jesse Slome,
AALTCI Executive Director. "The savings can amount to hundreds of dollars a year
for a couple."
The study examined data provided by eight leading long-term care insurers that
represent some 80 percent of new individual policies sold in the U.S. "Consumers
understand the risk of needing long-term care at some point in their life as they
age," Slome notes. "But people often wait too long to plan. Individuals don't
realize that a simple change in their health can cause one to pay more for
insurance protection or make you completely ineligible for coverage at any price."
The study of long-term care insurance policy applicants found that the percentage
of applicants between 50 and 59 who qualify for good health discounts ranged from
42 to 58 percent. The findings reveal that the percentage who qualify for good
health discounts drops for those in their 60s and even more significantly for
those who wait to apply until their 70s.
"When it comes to long-term care insurance, there are two important facts
consumers need to know," Slome stressed. "First, it's smart to start
investigating options when you are still in good health - which generally is your
50s. If your health is less than perfect, it pays to get information from a
long-term care specialist who understands which health conditions various insurers
will accept. Once you are declined coverage by one insurer, you may find it
impossible to get coverage."


Percentage of Applicants Who Qualify for Good Health Discount

Age of Applicant Low High Average
Under 30 42.0% 86.0% 66.5%
30 to 39 46.6% 79.0% 61.0%
40 to 49 50.0% 72.0% 53.7%
50 to 59 42.0% 58.0% 44.2%
60 to 69 27.0% 44.0% 31.9%
70 to 79 15.7% 32.0% 18.8%
80 and Over 5.0% 14.0% 11.2%

The American Association for Long-Term Care Insurance is the national organization
serving insurance and financial professionals who provide long-term care financing
solutions. For more information, visit the organization's Website: www.aaltci.org.



Web Site = http://www.aaltci.org

Contact Details = American Association for Long-Term Care Insurance
818-597-3227 info@aaltci.org