RELEASE ON RECEIPT - July 26, 2006

Three Ways to Simplify Long Term Care Insurance Choice

Answers to Mind-Boggling Complexity, from Felton-based LTC Expert, Barbara Hanson

Felton, CA, July 26 -- Why don't more Americans buy long term care insurance? Decision paralysis. This is the conclusion of a study commissioned by the AARP Public Policy Institute. People throw up their hands and do nothing when faced with complexity that confounds even the experts: myriad policy choices from dozens of carriers that use different terms and definitions; regulations that vary from state to state; and price quotes that map poorly to benefit amounts, waiting periods, deductibles, duration of benefits, possible rate hikes, and inflation protection.

"It's like you know you ought to buy a fire extinguisher, but the store has hundreds to choose from," says Barbara Hanson, Partner of LTC Financial Partners, the nation's most experienced long term care insurance brokerage. "So you put off the buying decision and your house burns down." Hanson applauds the AARP study and offers three strategies for "picking the right fire extinguisher" in time.

1. Rely on a knowledgeable independent agent. "Choosing among hundreds of fire extinguishers gets a lot easier when there's a clerk who knows the types, makers' reputations, and so forth," says Hanson. Beware, though, of LTC agents who represent a single carrier rather than several, and lack long term care insurance experience. "The field is so complex, you need someone who's not only impartial, but who's focused on the specialty for a long time."

2. Get financial advisors into the act. "Americans are starting to realize that long term care insurance is a factor in good estate planning," says Hanson. "Without the insurance, you put your whole nest egg at risk, not just your lifestyle." Many financial advisors are becoming more knowledgeable about long term care insurance; calling upon them can narrow one's policy choice. Advisors to contact include bankers, estate planners, accountants, elder law attorneys, and others.

3. Join with a group. "Just about anyone can qualify for some form of group coverage, at a discount," says Hanson, "and a group decision can be a lot simpler than an individual one, because your group does the legwork." While most companies won't pay for premiums, many are starting to facilitate policy choice and discounts. Examples range from Weyerhaeuser Corporation to mom-and-pop enterprises. Associations are getting into the group act too.

Hanson's organization offers help with all three simplification strategies, offering by-phone or in-person advice; referral to a knowledgeable financial advisor; and information on securing group coverage. Also available from Hanson is information on the Long Term Care Outreach and Education Program™ ( LTCOEP™).

The AARP study, authored by Bonnie Burns of California Health Advocates, is titled, "Comparing Long-Term Care Insurance Policies: Bewildering Choices for Consumers."

Barbara Hanson has specialized in long term care insurance since 1995 and earned the respected status of Master Agent Emeritus from one of the largest long term care insurance carriers in the industry. Today, as an independent agent representing all major carriers, she is ideally positioned to help individuals, families, and businesses design customized long term care strategies to fit their budget. She has served her community as an active member of the Chamber of Commerce and is a major supporter of her local Alzheimer’s Association. Having had extensive personal experience with long term care in her previous career as an activity director in long term care facilities as well as in her own family, Hanson understands the challenges people face when a friend or family member needs help to stay home safely. She has helped over 1,000 families plan for the potentially devastating financial risk associated with long term health care problems. Barbara shares her expertise through public seminars, guest media appearances, corporate education, and individual consultations.

MEDIA CONTACTS:
Barbara Hanson of LTC Financial Partners, Felton, CA - 831-335-4949 - www.eranova.com/LTCFP-BarbaraHanson
Jonas Roeser of LTC Financial Partners - 425-284-4863
Dick Samson of EraNova Institute for LTC Financial Partners - 973-335-3699 – media@eranova.com

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Photo of Barbara Hanson: