Long Term Care Insurance Premiums Reported To Be On The Rise

Since early 2012, the Massachusetts Division of Insurance has regularly approved premium increases of about 10 percent for the insurance, which was introduced in the 1980s as a hedge against the high and extended costs of nursing care. Regulators are now reviewing requests by some companies to nearly double their rates — potentially increasing premiums by thousands of dollars a year.

 

http://www.bostonglobe.com/business/2013/09/05/long-term-care-insurance-premiums-rise-its-future-doubt/SwodInNtdFJFWgsX2nzt6H/story.html

 

Early planning is a key component in mitigating long-term care costs. Talk to your insurance professional about how you can use insurance and financial products to plant for the potential of long-term care later in life.

 

Advertisements