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The Changing Landscape of Long-Term Care Planning

  • Due to recent changes within the Long-Term Care (LTC) marketplace, it has never been a better time to seriously consider LTC insurance as part of your financial strategy to pay for care. 

    The current low interest rate environment, high claims utilization, and low policy lapse rates are resulting in increasingly fewer carriers, fewer options, and more restrictive underwriting procedures.  In order to meet the growing demand for properly funded reserves, many carriers are initiating new pricing that reflects a more realistic picture of their claims experience and the role that women play - resulting in gender-based premiums for the first time in industry history.  
    However, the Gannon Alumni Association LTC Education and Planning Program's  affinity carrier, MedAmerica, has not instituted these changes.  Its premiums are still unisex priced, based on age, health, and coverage. 

    Deciding if this insurance is appropriate now will provide you with more LTC planning options and may save you premium dollars over time.

    Since you are never as young and as healthy as you are today, premiums will never be as low. So isn't today the best time to begin your planning?