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.
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