Live Insurance News

Long-term care insurance industry eyes gender-specific pricing

January 30, 2013January 28, 2013 Marc

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…

Long term care insurance policies are evolving for greater choice

November 14, 2012April 30, 2013

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…

Long term care insurance buying tips and tricks

August 25, 2012August 26, 2012 Julie Campbell

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…

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

April 28, 2012May 26, 2012 Julie Campbell

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…