${site.data.firmName}${SEMFirmNameAlt}
Throughout Southern California
310-324-9403
Toll-Free
866-402-1805
View Our Practice Areas

The Gender Gap Widens for LTCi

post10.jpg

The gender gap is about to get a little wider as the formerly egalitarian long-term care insurance market starts charging higher prices for women.

Are you a baby boomer? Long-term care is swiftly becoming one of the most important matters of financial security and asset protection. Unfortunately, long-term care insurance (LTCi) is becoming more complex and expensive to boot.

Apparently, women should not delay when it comes to assessing their long-term care needs as LTCi policies start ratcheting rates up on the longer-living sex. This development was explored by Reuters in a recent article titled "Long-term care policies will soon cost more for women."

Gender has long been a factor in the pricing of insurance policies, and always for very actuarial reasons. Why? Because women tend to live longer. Still the market for LTCi policies is trying to find its footing. As a consequence, at least one insurer is going to follow the actuarial numbers to higher rates.

Genworth Financial Inc., the largest seller of these LTCi products, announced that it will introduce new rates for new policies procured by women individually by as much as 20 to 40 percent. Note: for now, rates won't increase on married couples purchasing the same policies and so that's an important caveat, and strategy, if applicable.

If an LTCi policy makes sense for your unique situation, then it's certainly worth doing your homework. This latest development is just one more reason why planning is important. It remains to be seen where the market will lead these policies, so stay one step ahead and know what's right for you.

For more information please visit my estate planning website.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Find Out The Difference That Experience And Expertise Makes

Get the peace of mind that you deserve. First, attend a seminar. This will entitle you to a free initial consultation and a discounted estate planning fee. To learn more about our services or sign up for a seminar, contact us online or call us at 866-402-1805. We have offices in Torrance, Orange, Newport Beach, Pasadena and Woodland Hills.

Questions? Contact Us.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Call Now For A Free Consultation: 866-402-1805
  • ${site.data.firmName}${SEMFirmNameAlt}
  • Main Office: Torrance

    Torrance Office
    990 West 190th Street
    Suite 500
    Torrance, CA 90502

    Toll Free: 866-402-1805
    Map & Directions

    Orange Office
    333 City Boulevard Street
    17th Floor
    Orange, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Newport Beach Office
    5000 Birch Street
    Suite 8000
    Newport Beach, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Pasadena Office
    790 East Colorado Boulevard
    9th Floor
    Pasadena, CA 91101

    Toll Free: 866-402-1805
    Map & Directions

    Woodland Hills Office
    5850 Canoga Avenue
    4th Floor
    Woodland Hills, CA 91367

    Toll Free: 866-402-1805
    Map & Directions

    Office map