AALTCI

AcronymDefinition
AALTCIAmerican Association for Long Term Care Insurance (Westlake Village, CA)
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AALTCI gets a beneficiary count by asking about the number of people on claim on one specific day in the year.
The "get a quote" tool on the company's website says, "We are not currently offering long-term care insurance in your state or province," in response to queries about the companies on the AALTCI list.
In general costs increased slightly compared to our 2017 analysis, but indeed in some situations, though, purchasing a new policy could [cost] slightly less," said Jesse Slome, director of AALTCI.
Related: AALTCI posts LTCI claim data AALTCI: LTCI buyers are getting less inflation protection
Commenting on asset-based LTC's growing popularity, Jesse Slome, executive director of AALTCI, noted that "It's definitely a hotter property in the financial advisor marketplace, just because it's a simpler concept to sell than traditional LTC insurance.
Of policies sold last year, 97% provided for some form of home care, up from 86% in 2000 and 67% in 1995, AALTCI says.
The increase in claimants and benefits paid was expected," Jesse Slome, director of AALTCI, said in a statement.
That original $115,000 in coverage would grow to over $305,000 of protection in 20 years, estimates Jesse Slome, executive director of AALTCI.
When AALTCI conducts the LTCI rate surveys, it assumes that the standard policy has a $150 daily benefit at inception, provides three years of benefits, comes with a 90-day elimination period, and offers 5 percent simple inflation protection.
AALTCI on Tuesday released an index of prices that consumers can expect to pay for "good," "better" and "best" long-term care coverage.
About 12% of those receiving first time benefits from their group LTC policies were under age 60, AALTCI reports.
According to AALTCI, in 2016, total claims amounted to $8.