Tag: ltc coverage

Long-term care insurance premiums are rising as benefits are reduced

Julie Campbell
Long-term care insurance - Form

Approximately 70 percent of Americans will require LTC of some form in their lifetimes. Purchasing long-term care insurance is a daunting task for many Americans, who are finding policies increasingly difficult to afford, while they watch the benefits shrinking despite the rising cost. Many Americans find themselves frustrated and overwhelmed when trying to find affordable policies. This particular issue isn’t quite new to the long-term care insurance industry. Prices have been rising for several years while insurers cut back on what the provide in their policies. The reason is primarily…

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National Guardian Life Insurance Company brings new LTC coverage to California

H. Cutner
National Guardian Life Insurance Company - elderly care

The stand-alone LTC insurer is expanding its selling to the state starting on July 6. The National Guardian Life Insurance Company has announced that it will be bringing its EssentialLTC long term care policy to California next month. The stand-alone LTC insurance policy will become available to Californians starting next week. This announcement means that the National Guardian Life Insurance Company long term care policy will have expanded across the entire country aside from New York and Montana. This coverage is sold through traditional associations, distributions and worksite marketing programs.…

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Long term care insurance customers prefer home care

G. Turner
long term care insurance trends

Research has shown that this is the preferred way to use the benefits when it is possible. When it comes to the buyers and users of long term care insurance policies, studies are showing that the benefits are primarily being used for home care as opposed to residence in a nursing home or other form of assisted living facility. It is the type of coverage that people don’t like to think about and that they hesitate to buy. However, among those who do buy it, certain trends are being identified…

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Long term care insurance costs are higher for women

H. Cutner
Long Term Care Insurance

Female policyholders typically generate higher expenses, meaning premiums could rise. A long term care insurance policy has never been an inexpensive product, but as data continues to show that women bring in much greater expenses on their plans, it could mean that premiums are about to change. This could mean that the coverage may become much more costly for female consumers. Until now, long term care insurance companies have been charging the same premiums to their clients, regardless of their gender. These plans help policyholders to pay for the cost…

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California commissioner announces new legislation for long term care insurance

Long Term Care Insurance

AB 999 has been passed by a vote of five to three. The California Department of Insurance has issued a press release that detailed Commissioner Dave Jones’s announcement regarding the passing of AB 999, which was authored by Assembly Aging and Long Term Care Committee Chair, Mariko Yamada (D-Davis). Commissioner Jones had sponsored the bill, as did the California Department of Insurance. It has been written to increase consumer protection from the risk of excessive premium rate volatility, through the modification of the existing calculation process for the rates for…

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