Long Term Care Insurance

Given the poor underwriting of many LTC policies, especially in the area of automatic inflation riders, what is the likelihood that major insurers will write new LTC policies?

Terry Says:  Genworth, the current largest underwriter, says it plans to continue writing new policies.  Others are, as well.  But even if they don’t write new policies, insurance companies must stand behind existing policies. That’s one reason to get a policy now!  I heard the chairman of Genworth speak, explaining the mispricing of these policies by the insurance industry in past years.  They feel they have that issued remedied — and expect that while prices might go up over the years, we won’t see the radical increases caused recently by years of ignoring the changing underlying factors such as longevity and mortality.