Ask Terry Questions Long term care insurance

Long term care insurance

By Terry Savage on March 19, 2023 | Insurance & Annuities

This is actually a comment on your recent column. I live in Ct. I’ve been paying premiums on my LT insurance for almost 10 years. About 2 years ago my NW Mutual company raised the supposed fixed premium claiming they didn’t have enough money!!

Terry Says

That happened to ltc insurance owners all over the country. Each state was pushed to approve an increase, under threat of insurance company ‘failure’. What happened is that interest rates remained so low, the companies could not earn the predicted amount on their reserves. At the same time, people started looking forward to using their benefits — no longer the dreaded “nursing home” but a relatively nice assisted living.

I’ve written about this several time. You can adjust the amount of coverage you receive, or your inflation protection. Orf you might consider reading this and buying an additional combo life/ltc policy where premiums cannot go up and coverage cannot go down:



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