Live Insurance News

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…

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 rates increases for women can be minimized

January 26, 2013January 24, 2013 H. Cutner

An industry group has recommended ways for female consumers to gain more affordable coverage. The American Association for Long Term Care Insurance has released an announcement that recommends that women who wish to purchase cheaper coverage will need to do so quickly as their opportunity to act before a premiums increase is running out. A new sex-distinct pricing format is about to be implemented, which will increase premiums by 20 to 40 percent. According to the American Association for Long Term Care Insurance (AALTCI) director, Jesse Slome, “Women have an…

Michigan insurance news – no-fault fund transparency

January 9, 2013April 30, 2013

Every car in Michigan pays a $175 yearly fee to the Michigan Catastrophic Claims Association. In recent insurance news, one Judge in Ingham county decided that the public fund should be open for review so residents can understand how the fund sets the annual rate. No-fault and catastrophic loss The MCCA was created by state legislation to help Michigan insurance companies that pay out more than half a million in claim money to people in car accidents and suffer life altering injuries. This limit is for individual claims. Residents have…