Live Insurance News

Younger Americans are seeking long term care insurance policies

June 24, 2020June 23, 2020 Nordstrom

Long Term Care Insurance Policies - Hospital room

vA MassMutual survey showed that the demand continues to remain solid among consumers. Long term care insurance policies continue to hold their appeal among younger Americans, according to the results of a recent MassMutual survey. Insurers have been withdrawing from this market which comes with expensive chronic care benefits. Despite the concerns among insurers, many consumers are still very interested in investing in long term care insurance policies. The research showed that consumers also like the idea of being able to purchase this coverage as a part of a package…

Fitch labels General Electric insurance “risky”, sending share prices tumbling

August 23, 2019August 21, 2019 G. Turner

General Electric Insurance - long term care

A new report called the long term care insurance backer the riskiest one in that sector. A new Fitch Rating report referred to General Electric insurance as one of the riskiest backers of long term care coverage. It pointed to the company’s substantial claims exposure and comparatively small cash reserves for paying those claims. As a result of the new designation, G.E. saw its shares take a nose dive at the start of the week. The Fitch Ratings report is issued annually. The credit ratings agency underscored concerns outlined by…

Traditional long term care insurance policy sales maintain downward slope

August 6, 2019August 4, 2019 Logan B.

Traditional long term care insurance - Hand over senior citizens

Data shows that Americans are buying fewer LTC policies year over year. Americans are no longer purchasing traditional long term care insurance at the same rate they used to. In 2018, they bought only about 60,000 stand-alone policies in that category. That represents a drop of 13 percent year over year. Falling sales mean fewer insurance companies are participating in this coverage sector. Only about 15 carriers actively sold traditional long term care insurance policies last year. Moreover, among them, five took in over three quarters of the entire market,…

Long term care insurance applications of boomers rejected

May 28, 2013May 27, 2013 G. Turner

Applicants for the coverage are experiencing a notable downtrend in their acceptance by insurers. The industry has noted a striking trend in the long term care insurance sector, in which applicants for the coverage – particularly in the baby boomer age group – have not been able to purchase the policies because they have been rejected by their insurers. These consumers are being told that LTC coverage is important to their future planning but cannot buy it. According to the data that has just been released by LTC Tree, insurers…

Long term care insurance becoming harder for women to buy

March 1, 2013February 27, 2013 G. Turner

While some insurers aren’t selling the policies at all anymore, others are hiking their rates skywards. Long term care insurance is becoming much more of a struggle to purchase, particularly for women, as many insurers have been withdrawing from this sector, and those that have stayed in the game have been driving their rates up to the point that some customers are now paying as much as 40 percent more. This industry is, in some ways, facing the opposite effect that has been seen in the life coverage sector. Life…

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

February 27, 2013February 26, 2013 H. Cutner

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…

Health care reforms haven’t eliminated LTC struggles

November 26, 2012April 30, 2013

Problems with long term care costs are one riddle that remains unsolved by the federal overhaul. Although the health care reforms of 2010 were designed to help to make coverage and care affordable and available to all Americans, the insurance news issue of long term care insurance and the rising expenses associated with it is not among the problems being dealt with by the changed laws. The question of how to pay for LTC costs is still nagging the country and its aging population. The health care reforms were designed…