Women live about five years longer than men - to about 80 years of age vs. 75.  Women therefore may be more likely to be widowed as they age.  About 45% of women aged 65 and above are widowed, which grows to about 80% of women aged 85 and above.

Many times, women help care for their dying husbands and then must live alone as they continue to age and begin needing help to are for themselves and their homes.  In 2003, according to Census Bureau data, about half of all women aged 75 and above lived alone, while less than one in four men (22.9%) aged 75 and above lived alone.

It is not surprising, therefore, to find that nearly three our of four (72%) of nursing home residents are women.  Of residents aged 75 and older, 77% are women.

According to Genworth Financial's claims experience, for long term care insurance, every dollar paid out in benefits for men, approximately $2.50 is paid out in benefits for women.  To a larger extent, this is attributed simply to the fact that women live longer than men.  For example, the prevalence of Alzheimer's disease - by far the leading health condition that requires long term care - may be slightly higher in women, but the risk increases as age increases, and there are simply more women in their 70s and above than there are men.

Dementia, including Alzheimer's, accounts for 24% of the Long Term Care Insurance Division's claims filed but nearly 40% of the benefits paid.  Second is stroke, which accounts for 11% of claims filed and 15% of the benefits paid.

Long term care insurance generally helps make care available when you need it...and that's a positive event for both the individual and the family...If you have long term care insurance, you maybe more likely to have someone come to your home to care for you, a service that isn't reimbursed under federal programs.  You generally stay at home longer, and when you do need to move to another level of care, you are more prepared financially to do it.  This is a positive health event and a positive financial event.  It helps give people flexibility and choice.

Who will need long term care in the future?  Certainly we'd like to think that only other people - not ourselves or those we love - would need long term care.  But the risk is higher than most imagine.  We know that after age 65, Americans have more than a 70% chance of needing some form of long term care.  This is a real wake-up call for all of us to redouble our efforts to get good information on long term care financing out into the community and don't assume you're covered and leave your health care decisions in someone's hands.