What's New in the Long Term Care Insurance Industry

What's New?

Introducing... LTC WebQuote: Long-Term Care Insurance Rate Comparison Software

Finding the right LTC policy should be quick and easy. Instead, with hundreds of LTC insurance options available - all with different premiums, ratings, and product specifications - the process becomes more time consuming.

LTC WebQuote solves this problem by letting you quickly filter through many LTC plans, from the industry's top carriers and compare side by side illustrations.

LTC WebQuote is a unique web-based system that offers rate comparisons; making it simple for you to find the best plan for your customer.

LTC WebQuote Offers:

LTC quotes from multiple carriers
Side-by-side comparison up to 6 proposals on a page
State specific quotes
Quote a single client or a couple
Show additional quotes such as cost of waiting, how inflation protection increases benefits, and alternative premiums
Search for all plans with the benefits you are looking for, and Rank them in order of increasing premium
Print or email the quotes
Peace of mind (All LTC product rates and feature information is obtained directly from the carriers)
Current data without downloads or installations

To try LTC WebQuote today, please send an email to request the login information or click here. Or click "Instant Quote" at the top of each page.*

News Release:

Tax Incentives For Long-Term Care Insurance In President's FY05 Budget
Proposal Washington, D.C. (Feb. 6, 2004) - The American Council of Life Insurers (ACLI) praised the Bush administration for including tax incentives in its 2005 fiscal year budget proposal that, if enacted, help millions of Americans in need long-term care services.

The president's budget includes an "above-the-line" deduction for long-term care insurance premiums and provides an additional personal exemption to home caregivers of family members with long-term illnesses. "We commend this administration for encouraging families to take advantage of long-term care protection, which can help safeguard their hard-earned savings and assets from the prohibitive costs of long-term care," said ACLI President & CEO Frank Keating. "Americans need to take greater responsibility for securing their own financial futures, and long-term care insurance is a key to providing that economic security."

The proposed above-the-line federal tax deduction would allow all taxpayers to deduct long-term care insurance policy premiums from their taxable income, regardless of whether they itemize on their tax returns. The proposal also provides for an additional personal exemption for caregivers of family members in need of long-term care.

In the next 20 years, the demand and cost for long-term care services are expected to skyrocket. Recent reports indicate by 2040, individuals 85 and older-the group most likely to require long-term care-will more than triple to over 12 million. The average annual cost of one year of nursing home care, which is about $55,000 today, will escalate to more than $200,000 by 2030. "As Americans live longer and the cost of quality care escalates, they can find peace of mind knowing that long-term care insurance is available and now more affordable," Keating added.

ACLI represents legal reserve life insurance companies and fraternal benefit societies operating in the United States before federal and state policymakers, insurance departments, and the courts. ACLI is governed by a Board of Directors--elected by its membership--which sets policy and guides the actions of the association. ACLI's members are the leading providers of financial and retirement security products covering individual and business markets.

Contact:Jack Dolan, 202-624-2418
Sarah Bohn, 202-624-2419
Posted date:2/6/2004
Identifier:NR04-009
Attachments:None

or follow this link...

http://www.acli.com/ACLI/Newsroom/News+Releases/Text+Releases/NR04-009.htm

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