Long term care insurance will still be more expensive for some women

Long Term Care insurance

Though federal laws don’t allow gender biased premiums calculations, basic daily tasks can still be expensive. Although the federal law that will go into effect next year has stated that gender cannot be factored in to premiums calculations for health coverage, that regulation doesn’t take into account the basic daily life tasks that are covered by long term care insurance. The Affordable Care Act will prohibit insurers from charging women more than men for the same policy. Unfortunately, this law does not cover long term care insurance. This means that…

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Long-term care insurance industry eyes gender-specific pricing

long term care insurance trends

Long-term care insurance to see major shift in policy pricing The long-term care insurance industry is making moves to break away from its traditional unisex focus to adopt a more gender-based pricing structure. Several long-term care insurance companies have begun focusing on health care information that separates women from men and these companies believe that the time is right to address the issues that these two parties represent by restructuring fees and altering the prices associated with certain policies. Genworth is one such company. Genworth to embrace gender-specific pricing Genworth…

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Long term care insurance policies are evolving for greater choice

Long Term Care Insurance

The most recent offerings in this sector are including a larger number of options for consumers. Long term care insurance companies have been observing an increasing trend of skyrocketing costs as their policyholders are living longer and are using more services such as assisted living facilities and nursing homes. The value in this type of policy is in the fact that it covers these extremely expensive services. However, because policyholders are generating far greater expenses than had been predicted, the long term care insurance industry is being faced with massive…

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Long term care insurance buying tips and tricks

Long Term Care Insurance

Acting Commissioner Ken Kobylowski has released advice for consumers to follow. In a news release from the New Jersey Department of Banking and Insurance, Acting Commissioner Ken Kobylowsky has provided a list of long term care insurance shopping tips to help consumers to make more informed and appropriate decisions regarding their own coverage needs. According to the HHS, 21 million people over 65 years old will need these services in their lifetimes. The United States Department of Health and Human Services (HHS) has reported that their data indicates that over…

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Younger consumers are buying – and benefitting from – long term care coverage

Building Insurance Costs

Linked long term care coverage is starting to appeal to a younger audience due to claims with large payouts. In order to maintain coverage against the high costs of long term care, a growing number of national insurers are now offering a combination product that includes life insurance with the option for LTC benefits. This information was drawn from the 2012 Buyer Study, which was performed by the national trade group, the American Association for Long-Term Care Insurance. These products that offer linked benefits (also known as combination policies) are…

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