American Association for Long-Term Care Insurance

Los Angeles; August 26, 2013 – Single women between ages 50 and 70 have a final opportunity to obtain long term care insurance coverage with significant savings according to a campaign initiated by the American Association for Long-Term Care Insurance.

“Two leading long term care insurance companies have started charging single women between 40 and 60 percent more than single men and two more insurers are poised to launch their new products with sex distinct pricing,” declares Jesse Slome, executive director of the national long term care insurance industry trade group.

“This creates a significant opportunity for women who have yet to act to do so while they still have the greater selection of quality companies offering unisex rates,” Slome shared.  “Soon women who are alone because they are divorced, widowed or have never been married will be paying more and they need to know they can lock in those savings now but only by acting sooner rather than later.”  The Association director announced their campaign to educate the millions of single women that the window of opportunity is closing.  “This is important and worthy of the added effort,” Slome said.

“Single women who are healthy today are extremely likely to live to ages when the need for long term care becomes highly likely,” Slome reports.  According to a recent report, a healthy 60-year-old woman has a 70 percent chance of reaching age 85, a 52 percent chance of living to age 90 and a 30 percent chance of living to age 95.

“Insurance companies have started charging women more because their risk of needing care services is higher,” Slome explains.   The AALTCI reported that the long term care insurance industry paid $6.6 billion of claim benefits paid last year and that two-thirds of all new claims were started by women.  “People still mistakenly associate long term care insurance with nursing home coverage but the truth is that most care is received in the person’s home, and that insurance can enable you to remain in your own home accessing quality care where and when you need it,” Slome concluded.

The Association urged single women between ages 50 and 70 to start by gaining a greater understanding of the risks and costs.  For additional information or to request long term care insurance costs and information connect with a designated long term care insurance specialist who is a member of the Association by calling the organization at 818-597-3227 or visiting their website.

Tags: AARP, aging, genworth, insurance, John Hancockj, long term care, Mutual of Omaha, Transamerica long term care, women

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