Long term care ins — we haven’t had an increase in premiums!

My wife and I bought LTC through USAA in the early 90’s when I was 60 and she was 56. We bought the ” Cadillac policy “. The policies are now administered by John Hancock. Our premium have never increased; we have an inflation factor. My wife’s semi-annual premium is $265.00 and mine is $ 384.00. Your thoughts on this policy. Thank you!

Terry Says:  Well, you don’t tell me the type of coverage you have — but likely at those low premiums it is a three year policy for $200 a day or less — and I’m just guessing.  John Hancock has been one of the leaders in raising premiums on older policies, and I’m also guessing that they’ll get around to yours, sooner or later.  But as I have said to others writing in on this topic after publication of my recent column, it is better to have at least some coverage than none at all.