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Long Term Care Insurance Price Advantage for Women May Change

Long Term Care Insurance Price Advantage for Women May Change. Now women pay the same as men. Read on!

Long Term Care Insurance Price Advantage for Women May Change

The cost for long term care insurance, important protection that is currently owned by millions of Americans, is the same for a single woman as it is for a single man.

“Insurance is protection against risks and those who face greater risks of claims typically pay more for coverage,” explains Jesse Slome, executive director of the American Association for Long-Term Care Insurance, a national trade organization. “We understand that car drivers with multiple accidents pay more for insurance than someone with an accident-free driving record.”

Slome urged the agents to speak to their female clients about the importance of long term care planning. “Women today are living longer lives and may will live well into their 80s, 90s and even past 100,” Slome explains. “When you live a long life, the likelihood of needing long term care is exponentially increased and yet so many women have no plan at all for dealing with this matter.”

Slome, who is author of the Women’s Guide to Long-Term Care Insurance, noted that women who own long term care insurance protection comprise about two thirds of newly opened claims in 2011. “The largest percentage of long term care insurance claims paid to women is for care in a home setting,” Slome adds. “People still associate long term care insurance with nursing home care and while it does cover that, the majority of benefits paid for home care or care in an assisted living community.”

The long term care insurance expert pointed out that women still enjoy a significant pricing advantage when purchasing long-term care insurance. “Single women pay the same for equal coverage as single men do, despite the fact that their utilization is so much greater,” Slome shared with the female insurance professionals. “But this is likely to change in the years ahead so now is the right time to urge planning.”

Datum: 03 Oktober 2012
Bron: Press release Aaltci

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