Payouts from insurance companies for U.S. long-term care coverage hit $7.85 billion last year, an increase of 5% over the prior year, according to a new report by the American Association for Long Term Care.
But some professionals worry that many planners are falling short when it comes to advising on LTC coverage. Both Jesse Slome, the association's director, and insurance agent and expert Romeo Raabe, who bills himself as "the long-term care guy" of Green Bay, Wisc., offer up a few facts, forecasts and trends they think advisors should pay attention to.
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