Most Americans Aren’t Buying Long-Term Care Insurance, “But They Will, Where They Work,” Says James Dettman of ACSIA Partners
So?
He's a man with a mission. Like David with a glint in his eye, he's aiming to help bring down an American Goliath, our looming long-term care crisis.
"Nearly three in four Americans over 65 will need long-term care at some point," he says, quoting the
"This is a very big deal," he asserts, because --
- Long-term care can eat into retirement savings, costing from tens of thousands to
$100,000 ,$200,000 or even more per year, depending on location, type of services, and type of claim. - Family members may be forced into caregiving, disrupting their lives and affecting their ability to earn a living and protect their livelihood.
- Companies suffer, too. They report reduced productivity when employees worry about loved ones needing care.
"Long-term care insurance is the answer," Dettman asserts, "but most consumers aren't buying it. No problem. We just need to start offering it more aggressively through another channel, the workplace."
He points to key advantages over policies sold directly to consumers:
- Group rates are generally lower,
- Health screening is relaxed, and
- Family members can be included.
The potential is very large. According to the
By contrast, over 270 million have health insurance, and a majority, 155 million, have it through their employer, according to the
"We need to go with what's working," says Dettman. "If we follow the lead of health insurance, within a few years up to 155 million can have easy access to LTC protection through their jobs," he says. "We'll have multiplied the business 15 times over, and more important, released a flood of economic and personal vitality."
To get the ball rolling, Dettman and colleagues are seeking alliances with benefit brokers, insurance brokers, consultants, human resource managers, executives and association directors. "Our focus is to help deliver financial savings strategies for employees and employers alike," he says.
For over 20 years,
He has been a member of the
He will serve alongside fellow Worksite Sales Directors
Dettman and colleagues may be reached at the following numbers:
James Dettman : (901) 301-7421Dan Cahn : (425) 284-2148Ed Jette : (508) 981-6261Mario Sestito : (518) 817-3446
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