Insurance companies across the country, specifically those that offer long-term-care policies, have been working with state insurance regulators to drastically increase premiums for many individuals who may have older policies. Why? It comes down to two primary reasons: 1. Insurance companies badly overestimated the predicted number of policy lapses. They expected a higher number of policy holders to allow their ...

Long Term Care consists of a wide range of medical and support services for the elderly or people with a degenerative condition (e.g. Parkinson’s, stroke, etc.), a prolonged illness (cancer) or cognitive disorder (Alzheimer’s). Long Term Care could also be categorized as "custodial care." Custodial care involves providing an individual assistance with activities of daily living or supervision of someone ...

I am sure you have either been approached or have heard from others about proposals to take long-term care insurance. You start at age 50 or 55 and pay premiums into equity that is supposed to help your expenses later in life. You can summarize in 3 points some of the issues with LTC or long-term care insurance vs. an ...