Uncle Sam makes case for long-term care insurance.
Posted on June 20, 2008
Filed Under Long-Term Care Insurance |
Making the case for long-term care insurance has just gotten easier. That’s because the government has released new life-expectancy data, along with a new warning that Social Security does not pay for long-term care expenses.
According to the National Center for Health Statistics, age-adjusted death rates dropped sharply between 2005 and 2006, and life expectancy reached new heights. Result: overall life expectancy at birth set a new record in 2006 of 78.1 years. The data broken out by sex and race also set new records:
- For white females: 81 years
- For black females: 76.9 years
- For white males: 76 years
- For black males: 70 years
Meanwhile, The Social Security Administration revised its annual consumer statement to make abundantly clear that Americans are on their own nickel when it comes to paying for nursing home care. Says the statement, mailed to millions of Americans older than 25, “Medicare does not pay for long term care, so you may want to consider options for private insurance.”
OK, communicators, our mandate is as clear as an azure sky in summer. Americans are living longer than ever and the longer they live, the more likely they will need long-term care. This care is expensive, and Social Security won’t cover it. So what are you doing to drive home this message to the public? And how are you helping producers better make the case for long-term care so their clients can protect their assets from one of life’s most devastating financial risks?
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