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healthagent, My wife and I purchased our long term care policies when we were in our early 50's, about 10 years ago. If I had waited until now, the premium for the same coverage would cost three times as much. I have since become uninsurable, so LTCI would not be an option now if I had waited.
I have not had any rate increase, but I am positive I will. If my rate has only doubled, when I reach seventy, what they were when I got the plans, I will be a very happy camper. If they triple, I will still feel I have a bargain at age 70.
I don't know exactly what your beef is, but I've been selling LTCI 11 years, and everyone I write a policy for is aware that the rates will more than likely go up. It's just a matter of when and how much? They still see the need for the coverage, because the need is very real.
I have not had any rate increase, but I am positive I will. If my rate has only doubled, when I reach seventy, what they were when I got the plans, I will be a very happy camper. If they triple, I will still feel I have a bargain at age 70.
I don't know exactly what your beef is, but I've been selling LTCI 11 years, and everyone I write a policy for is aware that the rates will more than likely go up. It's just a matter of when and how much? They still see the need for the coverage, because the need is very real.