Regarding future rate increases....I am not 100% confident that they will not continue to raise rates in future years...so long as they are hemorrhaging on LTC losses they will file rate increases until their reserves meet whatever criteria the actuaries say is necessary to pay all future claims. Maybe they have finally figured it out but we don't know if their assumptions on utilization are accurate. If they got all their policy holders to agree to change their policies from unlimited to limited benefits that would help...but those polices with unlimited benefits are the ones they are really targeting with 200-300% future rate increases. If you cap lifetime benefits and limit exposure to per diem COI you at least are in the ballpark on what it might cost in future claims.
Statistics: Posted by bradfordkerr02 — Tue Apr 23, 2024 7:00 am — Replies 6 — Views 805
