Long-Term Care Research Pulse
She Paid $2,800 a Year for Long-Term Care Insurance for 19 Years. At 81 the Insurer Raised the Premium 60%, and Dropping the Policy Would Have Thrown Away $53,000
Wealth Defender HQ Bottom Line
Past premiums paid for coverage during those years, so the amount already spent should not decide whether to keep the policy. Compare the new premium with your budget, the care costs the policy covers, and what you could pay yourself. Before canceling, ask whether reducing benefits could lower the premium and whether any coverage would remain if you stopped paying.
This takeaway is editorial analysis of the linked source by the Wealth Defender HQ research team. It is not investment, legal, insurance, or tax advice.
What the source reports
She Paid $2,800 a Year for Long-Term Care Insurance for 19 Years. At 81 the Insurer Raised the Premium 60%, and Dropping the Policy Would Have Thrown Away $53,000 aol.com
Original source
Full reporting stays with the original publisher. Our contribution is the takeaway above.
Read the original at aol.com