By Michael Chamberlain, CFP, AIF, Contributor
It’s true that men have always paid more for life insurance then women based simply on the fact that women statistically live longer. A similar pricing structure is about to come to the long-term care insurance industry, only in favor of men this time around, and for the exact same reason. On average, women outlive men by five to seven years. The older we become the greater the chance that we will one day be in need of Long Term Care (LTC). Statistics show that currently about 70% of the residents who live in a nursing home are women. Women represent almost 80% of all individuals living in assisted living facilities and two-thirds of those receive home care. According to one LTC insurance executive, $2 out of every $3 paid in long-term care claims are for women. …read more
Source: FULL ARTICLE at Forbes Latest