us long term care insurance Archives

Is long-term care insurance worth it for people after retirement age?

November 16, 2023November 15, 2023 Marc

long-term care insurance - Retirement plan

Many people let the coverage go when it is no longer a part of their employment benefits. Though many people consider long-term care insurance to be important coverage while they are still employed, it is commonplace to drop the policy at retirement age, when people tend to want to reduce their daily living costs and coast off the funds they’ve saved throughout their working lives. That said, many financial experts are cautioning that this trend might not be the best to follow. There are a number of reasons that many…

Long term care insurance rate reform takes a top spot for NAIC

April 16, 2019April 12, 2019 H. Cutner

State insurance commissioners across the country are taking on the rapidly growing pricing problem. State insurance commissioners throughout the U.S. have taken on the growing issue of long term care insurance rate growth. The industry has seen skyrocketing prices as a result of a slew of challenges in this area of coverage. The problems in the LTC insurance industry have been growing over several decades. Long term care insurance rate reform has been necessary for a long time. Over the last decades, insurance companies have been finding that their models…

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 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 Some insurers have withdrawn from that sector altogether.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…

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…