LTC Bullet:  The LTCI Sourcebook

Friday, October 2, 2015


LTC Comment:  Do you have AALTCI’s 2015-16 Sourcebook for LTCI information?  If not, you should.  Why, after the ***news.***

*** LTC SALES SUMMIT:   Jesse Slome of AALTCI reports “This is your final reminder to sign-up for the FREE online broadcast from the 2015 National LTC Solutions Sales Summit.  The conference takes place on Tuesday, October 27 and the video broadcast begins at 9:00 AM (Eastern Time).  You can watch as little or as much as you like during the day.  PRE-REGISTRATION IS REQUIRED to receive the web access information.   To see the program line-up and register click here now or go to  ***



LTC Comment:  Having come up for air after a lengthy stint of research and writing on our latest project, I began a long overdue browse of “The 2015-2016 Sourcebook for Long-Term Care Insurance Information.”  The Sourcebook is Jesse Slome’s invaluable freebie for members of the American Association for Long-Term Care Insurance (  I’m going to give you a preview of the volume’s informative content below, but first, here’s Jesse’s “two cents” about the organization’s flagship publication.

The Sourcebook is more than just a compendium of the latest facts and data relevant to selling long-term care insurance … it answers the questions your clients and prospects will be asking you.  Plus it contains some beautifully designed, generic marketing tools that you can use to convey impactful information to prospects.  To see the Table of Contents for the 2015-2016 LTC Sourcebook and some examples of pages, click here


Copies are sent to all individuals who join the American Association for Long-Term Care Insurance.  The cost to join is $98 for one year and the cost of the Sourcebook alone would sell for $99.  But it’s yours at no charge when you join.  In addition, members are listed on the Association’s Find A LTC Insurance Agent online directory.  This is the #1 national resource for consumers seeking information on long-term care insurance.

OK, what’s in the LTCI Sourcebook?  Lots of data.  You’ll find average premiums for good, better, best LTCI policies for male and female singles and couples; sales data for tax qualified LTC riders; covered lives and market share for 2013 and 2011 plus 2013 earned premium for every LTCI carrier; 2012 and 2014 inforce lives by state; and a section on key findings from recent studies.

What really captivated me, however, were the graphs and charts in the Sourcebook that bring the data to life.  One explains how “We’re Terrible at Predicting How Long We’ll Live.”  For example, people who said they’d have a 30% chance of living to age 75 actually had a 70% chance.  Don’t you think facts like that could be a wake-up call for people in denial about the need for LTCI?

Getting old isn’t easy.  At age 85+, 41.5% of people have three or more disabilities.  Hard reality is less easy to dodge when you’re staring the proof in the face.  Almost 2/3 of Alzheimer’s patients are women.  Good husbands can’t evade that niggling tidbit by failing to insure their wives at least.

We all know Medicare and Medicaid are bankrupt, but most Americans don’t.  The Sourcebook has a whole page of eye-opening documentation of those programs’ shortcomings and long-term vulnerabilities.  You’ll see one chart that tells you how old you’ll be in 2030 followed by another chart that shows Social Security, Medicare and Medicaid will consume one-seventh of our Gross Domestic Product in that year, the same year Medicare’s trust fund is depleted!

Scare tactics?  Bull-pucky.  Tell it like it is!  Just be very sure you have the data and sources to back it up.  The Sourcebook has them.

Inclined to wait?  LTCI applicants ages 70-79 are declined 44% of the time.  For ages 60 to 69, the decline rate is 25%.  Reasons to act followed by reasons to act NOW.

But is it worth the cost?  Another full page answers that question.  Check out your lifetime chance of using your benefits and a comparison chart of insuring vs. saving.

Wonder where claims begin?  In homes far more than nursing homes.

Another whole page documents why premiums are unlikely to rise much in the future, putting to rest one of the biggest objections against LTCI.

OK, you get the idea.  But I’ve barely scratched the surface.  Oh, and by the way, free electronic versions of the Sourcebook’s impactful infographics are available to AALTCI members.

Bottom line.  Whether you sell LTC insurance or only advise clients about financial planning in general, you should own, study, and share the information packed into the Sourcebook.   And it’s free to AALTCI members.  Such a deal.