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Old 11-16-2010, 02:00 PM
1,032 posts, read 985,059 times
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I came across this article on the Wall Street Journal site. It has some general information on what is happening with companies who offer LTC. I thought it may be of interest to some of you. (Note: I'm not sure how long this article will be available online. It was dated November 12th)

MetLife to End Sales of Long-Term-Care Insurance - WSJ.com
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Old 11-16-2010, 04:31 PM
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they are just the first to pull out.

a few things are making it way less profitable. the first is rising costs and longer lives are making the numbers the actuaries planned a little off base . the 2nd thing is folks are getting smarter.

while the salespeople who sell these policies used scare tactics to get people to buy them folks have learned a few things.

the first is on the whole we spend very little time in a nursing home compared to what they would like you to believe but the main thing is nursing homes are 80% women. the insurance companies payout less then 20% in claims for men .. soooo a smart couple shares a policy.. that really made it unprofitable for insurance companies who counted on almost all profit from most policies sold to men . a couple in the beginning each bought their own,now they share if they are smart.
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