May 27, 2015, Los Angeles, CA -   A study of 2014 individual long term care insurance buyers finds significant changes in buying patterns, reports  the American Association for Long Term Care Insurance.

"In years past consumers favored policies that included an option that increased their initial benefits by five percent yearly but that's a formula that is no longer affordable and likely not even necessary," explains Jesse Slome, executive director of the American Association for Long-Term Care Insurance (AALTCI).  The Association regularly analyzes data on buyers that will be published in the organization's 2015 Long-Term Care Sourcebook.

"Finally, insurers are reporting that nearly half of new individual policy purchasers opted for a three percent growth factor," Slome notes.  "That's a formula that makes their insurance protection far more affordable, far less likely to experience a future rate increase and quite honestly may indeed be more than enough insurance protection."

Slome explained that many of the policies issued 10 or more years ago that included the five percent growth option were the policies facing periodic requests for rate increases.  "Inflation has been very low for years and almost non-existent for home care services which is what many people seek when they need long term care," the long term care insurance expert explained.  "We advocate a 'Good, Better, Best' approach to buying long term care insurance and the 'Best' coverage today is one that includes the 3 percent growth."

To learn more about long term care planning and options for financial security as well as no-obligation long term care insurance cost comparisons, call the organization's offices at 818-597-3227 or visit their website www.aaltci.org.