Building a long-term care coverage plan for women is much different than it would be for a man or for a parent or spouse. Long-term care coverage plans for women are more expensive than any other long-term care coverage option. The reason for this is that insurance providers tend to estimate the cost of the premium based on the life expectancy of the recipient. Women have a longer life expectancy rate and therefore their coverage plans have a higher premium. When you are building a long-term coverage plan for women, there are certain key factors that need to be taken into account.

Higher Premiums

One of the first considerations of any long-term care coverage for women is the higher premium. When you are trying to budget in the cost of long-term care, cost of premiums for major medical coverage and the cost of other related care plans, the higher premium must be taken into consideration. Remember that a higher premium for a woman can be double or triple the amount of the cost for a man. If you are concerned about the exact amount, quotes are available.

Illness

The illness that requires long-term care coverage for women can have a significant change on the type of coverage that you are choosing. If you are guessing at what type of long-term coverage you need and what kind of illness you may have, it is best to review family medical records to determine if you are in line for a certain type of issue. Cancer is the most common issue among women with long-term care illness followed by memory loss care and Alzheimer's. Each one of these illnesses carries a much different daily cost of care and different care plan. The premium will stay the same, but the illness itself will determine what kind of coverage amounts you need.

Care Options

One of the considerations that women need to take into account is the care option plan that they are choosing. This goes beyond the daily benefit plan, monthly benefit plan, high premium or the amount of full coverage. What the care option covers is the type of care they will be looking for. If you are looking for home health care options then you will be looking at a much lower daily amount than someone who is looking at a full care facility, long-term care facility, Alzheimer's care facility, or cancer patient facility.

There are other options to take into consideration, the amount of coverage you already have is a big option. In addition, the amount of other benefits you have should be taken into consideration. For example, if you have an annuity, then the annuity may work in your favor with the long-term care policy to lower the amount of out of pocket expenses you are paying on top of the amount of premium. In some cases, the annuity may pay for the high premium investigating the premium amount as being a factor for not getting long-term care insurance.