Article on long term care insurance

Victoriaredux

Not the most cheerful topic….

https://x.com/barronsonline/status/1849308096327246291

Covers the history of insurance , recent premium issues etc.

SusanB-dil

Yup - we are seeing this exactly. and yes, it is one of the insurance names mentioned.

Quilting brings calm

I totally understand the consumer protection of guaranteed renewal with LTC policies. Who wants to ( or thinks it’s fair to) pay into a policy for decades only to have it cancelled when you get to the age you are likely to use it?

Our policies are group ones through a former employer with Met Life. The premiums are reasonable because of them being group policies. The premiums have always come out of our personal checking account, making the policies portable. They are no longer offered at my former employer. I think the insurance company no longer writes LTC policies. The policies are capped at about 2.5 years of coverage, having a 6 month waiting period, with inflation purchases offered every 3 years. My spouse and I will likely stop purchasing further inflation increases since we are in our mid-sixties.

I AM concerned about how trying to use the policies will work when the time comes. Will the claim process be straightforward or will the company put up roadblocks?