Women live longer than men, a fact of life for many insurance companies had ignored until last year when calculating insurance premiums of long term care (LTC). Since April 2013, the new pricing systems consider women a greater risk for LTC than men. Not only do they live longer and are more likely to need LTC, but statistics show they may need long-term care for longer. Because of this, women now have to pay a 20 to 40 percent of their health care insurance costs long term, unless they live in Colorado and Montana, where the unisex pricing is applied by 'State. How women can still get affordable insurance policy LTC
Here are some tips to keep in mind:
- buy long-term care as a couple . autonomous political LTC insurance is expensive. A plan of "shared care", however, is a good option. It allows a couple to double the lifespan of their policy without paying extra.
- shorten the benefit period. According to the Centers for Disease Control and Prevention (CDC), the average time spent in nursing homes is 835 days (approx. Two years and 3 months). So instead of investing in a LTC policy with a period of 6 to 10 years of benefits, consider one with a period of 3 years of benefits.
- combined policies. care insurance can be sold as a rider on your life insurance policy. LTC makes it much more affordable. With a combo policy, while LTC costs you may incur are taken on the death benefits.
- stay healthy. If you've adopted a healthy lifestyle, you can qualify for the best rates! It could earn you a discount of 10 to 20 percent each year.
- If you own a business remember to take advantage of tax saving benefits of your LTC insurance.
Last but not least, while most insurers consider sex to determine insurance rates, there are other factors that can cause significant savings when you comparison shop. For this reason, shopping with AccuQuote to get the best quotes from dozens of leading insurers.
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