Live Insurance News

Long term care insurance study identifies women’s coverage concerns

November 17, 2012November 15, 2012 H. Cutner

Research conducted by a Milwaukee insurer has identified a number of enlightening facts. The results of a long term care insurance study performed by Northwestern Mutual Life have shown that while women seem to have a greater understanding than their male counterparts regarding the options and resources that are available to a person who requires assisted living services, they are also notably less likely to purchase the necessary coverage to shelter them from those risks. The insurer released its findings in time for the awareness month for this form of…

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…

Life insurance industry troubles may fall to consumers

November 1, 2012October 30, 2012 Nordstrom

Life insurance industry representatives meet to list their woes The woes of the U.S. insurance industry are likely to get the notice of consumers, even those that are not so keenly attuned to the world of insurance news. This may be particularly true in the realm of life insurance. The life insurance industry has been facing troubling times in the U.S. and representatives from some of the largest companies in the country met in Washington for the American Council of Life Insurers conference to list their woes. These troubles are…

Long term care insurance tax deduction limits are on their way up

October 22, 2012October 21, 2012 Nordstrom

The IRS has increased these limitations to help LTC customers afford their policies. The director of the American Association for Long Term Care Insurance, Jesse Slome, has announced that the IRS has now increased their tax deduction limits on this form of coverage. The Internal Revenue Service announced the start of this change for policies purchased in 2013. According to Slome, “For taxable years beginning in 2013, the limitations have been increased,” adding that “Tax advantaged long-term care insurance remains one of the few remaining significant tax-savings benefits especially meaningful…

Long term care insurance is undergoing some important changes

September 6, 2012September 5, 2012 Julie Campbell

These alterations reflect the desire of insurers to tighten their belts. As the American population gets older, the long term care insurance industry is facing a number of struggles in terms of the expenses that it is facing. Some insurers have withdrawn from that sector altogether. Other long term care insurance companies have been holding off on the sales of the policies that offer the most generous benefits, while they cinch their underwriting efforts. Almost all of them are increasing the premiums that are paid on the policies that already…