Category: Long Term Care

As we grow older, the probability that we will need in-home or facility-based long-term-care services increases greatly. Long-term-care insurance will pay some or all of the costs of this care. Given the high costs of these services, why don’t more people buy insurance that will pay for them? They often fail to act because they…

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The ground is rapidly crumbling beneath the long-term care insurance industry. Genworth Financial, a major LTC player, has been caught in the landslide. Genworth recently posted a quarterly loss of $844 million, driven largely by costs associated with its LTC products, according to Bloomberg. (1) The loss was the largest since Genworth spun off from…

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