Is Long-Term Care Insurance Beginning to Fade Away?

When a Safety Net Is Yanked Away, By Ron Lieber, New York Times, November 12, 2010

“November is long-term care awareness month, and to celebrate, MetLife, a big player in the long-term care insurance industry announced on Thursday that it wanted to get as far away from the business as possible. “  That is the opening to this concern-provoking article in the New York Times.

It discusses how insurance companies writing long-term care insurance policies have seriously miscalculated their pricing models, and now see that they cannot sustain the business at  these rates.  Some long-term care insurance companies are exiting the market, as MetLife announced it will do as of December 30, 2010.  Others are seeking substantial rate increases from policy holders.  Reportedly, Genworth Financial is seeking an 18% increase in premiums on older policies held by about 25% of its customers, and John Hancock has requested permission to raise premiums for about 80% of its customers by an average of 40%, and stopped offering new long-term care insurance plans through employers while it says it is figuring out what to charge.

This prompts the author to pose the question:  Is long-term care insurance doomed?

Read More at: Long-Term Care Insurance Begins to Fade Away –


Comments are closed.

.............................................................................Back to Top...

Login to Post Comments

Register & Login above to post comments. Click here for Help. To join a Support Group, Register/ Login at CaregiversLikeUs.

The Fifteen Newest Updates on HelpingYouCare® As Of Today

New Posts on HelpingYouCare® by Day or Month

July 2024
« Feb    

Survey/ Opinion Poll

Participate in a brief
Survey/ Opinion Poll »

We publish the results of our periodic Surveys & Opinion Polls, anonymously. See Survey/ Opinion Poll Results ».

Contribute Content

Write and contribute articles, posts, or other content to this Site, or share links to useful information & resources you have found with the HelpingYouCare® Community.
Read How…

If you find any broken links on this Site, we will appreciate your reporting them to us:

Report Broken Links