What Have You Read Lately About Long-Term Care Insurance?

Don’t let the facts get in the way of a good story.

It seems that once you reach the age of 50, the conversations about Long-Term Care begin to occur more frequently.

In today’s world, much of our information comes from the Internet, but some articles are misleading or even erroneous on Long-Term Care Insurance.

“I’m not sure I would say it is fake news; perhaps just lazy news or advocacy news,” said Matt McCann, a nationally known expert on Long-Term Care Insurance and planning. “Generally, there is more to a story and the stuff left out could be very important.”

McCann says stories about premium rate increases are very misleading as they leave out many details.

Today, all plans are priced with the very low interest rate environment in mind. These older plans that had increases were based on a few factors:

Interest Rates – Old plans were never priced considering the interest rate crash. Today they are. Lapse rates – Very few people drop their policies nowadays, but this was not factored into premium pricing on many older plans. Claims and underwriting experience – These policies are paying huge benefits. In 2017, over $9.2 billion was paid in benefits to American families protecting assets and easing family burden. Today underwriting is more conservative but policy holders start younger when they are healthier.

“They were underpriced and even with increases these old plans still have outstanding value and huge benefits,” McCann said.

McCann notes that today’s Long-Term Care Insurance is still very affordable, but priced more appropriately.

“This gives consumers additional peace-of-mind knowing they have a plan to address the financial costs and burdens of aging that will remain affordable once they retire and get older,” McCann said.

McCann assists people nationwide using his unique process where they speak with him on the phone while seeing his computer screen on their computer. He works with all the major companies in Long-Term Care.

McCann recommends several reference websites for research:

LTC News offers articles and resources: www.ltcnews.com

US Department of Health and Human Services: www.longtermcare.gov

Free LTC Quotes: www.quoteonltc.com

McCann’s website also features several outstanding resources.

McCann Insurance Services: 866.751.7957: www.mccannltc.net