March 2013: Long Term Care Planning

Listen to the “Financially Empowering Women™” podcast: 

Today’s guest is Brigitte Bromberg. Brigitte has been a risk management expert for almost thirty years. She specializes in long term care insurance, disability insurance, life insurance and annuities. Brigitte is highly valued by other advisors and clients in general, who appreciate her knowledge and ability to focus on protecting families assets and businesses.

Our focus today is on Long-term care planning since it is predominantly a woman’s issue. Women live longer than men and are much more likely to outlive their spouses. This means they’re also much more likely than men to benefit from the purchase of long term care insurance.

Brigitte explained some of the nuances to consider when planning for long term care. She also revealed that the primary insurance companies plan to change their current policies making pricing sex-distinct. That method has long been in use for life insurance, where women’s relative longevity has resulted in their benefiting from being charged lower premium prices than men. In this case however, long term care policies will be more expensive for a woman purchasing the coverage due to their longevity.

Brigitte Bromberg – President of Winning Strategies Group, specializing in Insurance and Risk Management, www.winstrat.com