Study of Long-Term Care Applications Indicates Marriage Discounts Strong Proxy for Gender Ratings

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CompleteLongTermCare.com is a product of LTC Global, Inc., which provides financing to the Long Term Care insurance marketplace and operates several senior market insurance agencies, including ACSIA Long Term Care, Inc. (ACSIA.com) and United Insurance Group Agency, Inc. (UIGInc.com).

“It is remarkable that with 51% of females ages 65 to 74 with incomes over $40,000 single, only 20% of the same aged females applying for Long Term Care are single.”

CompleteLongTermCare.com recently released a study with summary data on Long Term Care insurance sales that indicates that marital discounts in place in the Long Term Care insurance industry act as strong proxies for gender based ratings and that gender based ratings in addition to these discounts may not produce significant improvement of carrier results.

CompleteLongTermCare.com is a product of LTC Global, Inc., which provides financing to the Long Term Care insurance marketplace and operates several senior market insurance agencies, including ACSIA Long Term Care, Inc. (ACSIA.com) and United Insurance Group Agency, Inc. (UIGInc.com). The study states “examination of current applications against national population data indicates that wealth and age qualified single women are already underrepresented in the application pool. It also shows that marital discounts are an excellent proxy for gender based rates and that implementing them will likely have minimal impact on carrier results.”

The study points out that ”over 85% of the applicants are married”, while, the overall population has 36% unmarried applicants between 65-74 and 33% unmarried applicants between 55-64, based upon 2011 census data.

The study also observes that single females that are age and wealth qualified are currently underrepresented among applicants. “It is remarkable that with 51% of females ages 65 to 74 with incomes over $40,000 single, only 20% of the same aged females applying for Long Term Care are single.”

The study also observes that single females that are age and wealth qualified are currently underrepresented among applicants. “It is remarkable that with 51% of females ages 65 to 74 with incomes over $40,000 single, only 20% of the same aged females applying for Long Term Care are single.”

An Actuary with a long involvement in the Long Term Care industry was asked about the study and said, “Female claim costs are twice the cost of male claims. They claim more often and survive longer on claim, but it is also true that once marital discounts were implemented single female participation dropped three-fold”

For the full report, click here. Visit http://www.completelongtermcare.com or http://www.infoLTC.org for further information about Long Term Care insurance.

About ACSIA®

Founded in 1958, ACSIA is a leading national distributor of Long Term Care insurance. ACSIA is a member of the LTC Global group of companies and headquartered in Fort Myers, Florida. For more information about ACSIA, visit http://www.acsia.com.

An exciting opportunity in the Long Term Care Planning industry can begin at http://www.ltcopportunity.com. Find out why the top specialists in the country are choosing ACSIA and see why we are proud to say, “We’re invested in you”.

About LTC Global

LTC Global is a leading independent marketer of insurance products to seniors with emphasis on Long Term Care insurance and Medicare insurance products. In addition, LTC Global provides capital to insurance agents and agencies through commission-based lending and renewal commission purchases. LTC Global has a national distribution network and is headquartered in Fort Myers, Florida. For more information about LTC Global, Inc., visit http://www.ltcglobal.com.

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Marilyn Caughenbaugh
LTC Global
800-942-7355 x 7230
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