A new video from the American Association for Long Term Care Insurance helps consumers understand their options when subject to a rate increase on their insurance coverage.
Los Angeles, CA, August 18, 2015 –(PR.com)– A new consumer video explores what consumers with long term care insurance coverage need to know if they face an increase in their insurance costs.
“No one likes to pay more but when it comes to long term care insurance people often have lots of misperceptions and misinformation regarding rate increases,” explains Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI). The organization has posted a 10-minute video designed to shed light on the topic and provide some helpful information.
“It’s never a take-it or leave it situation,” Slome explains. “People mistakenly think everyone cancels or loses their coverage which just is not true.” The video shares data from the nation’s largest long term care insurance program where 144,000 policyholders faced a rate increase. “Only 1.6 percent lapsed or dropped their coverage,” Slome notes. “Nearly a fourth, 23 percent reviewed their current circumstances kept their coverage active and are paying less than before.”
The organization’s video can be seen at youtu.be/7Lwqb6syYII.
The American Association for Long Term Care Insurance was established in 1998 and undertakes efforts to create heightened awareness among both consumers and insurance professionals. To learn more or to locate a knowledgeable insurance specialist call 818-597-3227 or visit the organization’s website at www.aaltci.org.
American Association for Long-Term Care Insurance