Long term care insurance might become more costly for women than for men, the fine folks at Insurance News Report are saying.
The reason? Women live longer, which means they’re more likely to need care longer, which means they’re more expensive, LIN says. As it stands, women already get two out of every three dollars from long term care insurance benefits.
Genworth Financial, the nation’s biggest long term care insurance provider, has already announced that they’ll consider gender when they set rates. Others will likely follow.