Planning Briefs
The Sad History Of Long-Term Care Insurance
Published Thursday, March 24, 2022 at: 9:18 AM EDT
Long-term care insurance (LTCI) has been sold to consumers for about 50 years. With little historical data to draw from in pricing policies, insurers made overly optimistic assumptions for decades. As a result, LTCI policy owners often are subject to bad surprises. LTC insurance policyholders are often receiving premium increase notices. They are being forced to accept lower benefits or pay more to keep their current benefits. Individuals buying LTCI for the first time are entering the market at a time of upheaval and would be wise to cautiously navigate the dark world of LTCI. Here’s guidance. It is an understatement to...
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