U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 11-16-2010, 02:00 PM
 
1,032 posts, read 985,059 times
Reputation: 2575

Advertisements

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
Rate this post positively Reply With Quote Quick reply to this message

 
Old 11-16-2010, 04:31 PM
 
96,860 posts, read 95,971,590 times
Reputation: 70854
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.
Rate this post positively Reply With Quote Quick reply to this message
Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Similar Threads

All times are GMT -6.

© 2005-2022, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top