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Long term care insurance prices raise concerns

September 3, 2014September 5, 2014 G. Turner

Long Term Care Insurance Premiums on the Rise

Insurance commissioners in nearly every state are alarmed as they have nearly no authority to stop these skyrocketing rates. Across the country, state authorities are finding that the price of long term care insurance coverage is heading sky high at an increasingly rapid rate, and at the moment, they don’t have much in terms of power when it comes to actually controlling this issue. Regardless of claim history or health status, insurance premiums are rising at a staggering pace. It is not unheard of – or even uncommon – for…

Long term care insurance review gives Genworth stock a slap in the face

August 4, 2014August 2, 2014 G. Turner

The reaction from Wall Street was far from positive as the company looks into its claims reserves. When Genworth Financial Inc. announced that it would be reviewing the adequacy of their claims reserves with regards to their long term care insurance business, the reaction from Wall Street was to send the company’s stock tumbling. The company has already reported that it had experienced a drop in its operating profits in the second quarter. In fact, the long term care insurance company’s stock fell by 14 percent, bringing it down $2.28…

Long term care insurance premiums allowed to rise 75 percent in Texas

July 29, 2014July 26, 2014 Julie Campbell

caregiver long term care insurance senior

Regulators in the state have given permission for the increase to stand, frustrating some consumers. The Texas Department of Insurance is taking fierce criticism from two families regarding the 75 percent increase that was allowed to stand for premiums being paid for long term care insurance coverage in the state. The question that they has raised is whether the department is on the side of the customer or the insurance industry. They have also asked about the true power of the agency and whether it actually has the power to…

Long term care insurance coverage costs continue their climb

May 16, 2014May 14, 2014 G. Turner

The price tag for these often vital policies are ever on the rise and show no sign of slowing down. For many people, the type of coverage that is provided by long term care insurance is an absolute necessity, because if they reach the point that they are no longer able to perform their own daily living activities – such as dressing, bathing, grooming, and preparing their own meals – they would not have the financial ability to pay for the assistance that they would require. Among those without coverage,…

Long term care insurance policies may need extra inflation coverage

April 21, 2014April 19, 2014 H. Cutner

Many experts are starting to recommend that added protection be purchased to ensure the coverage will be adequate. Although it may sound a little bit strange to hear that experts are recommending extra coverage for a long term care insurance policy, but that is exactly what is happening on an increasing basis in order to protect policyholders against inflation. Without that additional protection, some are starting to question the value of this type of policy in the first place. The executive director of the American Association for Long Term Care…