A slew of factors, including low interest rates, increasing longevity and insurance company pricing blunders, have led to an industry on the skids. Will hybrid products save the day?
While long-term care insurance options continue to diminish, a new industry report finds a huge spread in costs for virtually identical coverage plans.
Most people don’t carry this insurance because it’s traditionally been expensive, difficult to understand and fraught with controversy over premium increases on older policies that were mispriced.
It might be hard to imagine now, but chances are you’ll need some help taking care of yourself later in life. The big question is: How will you pay for it?
Is long-term care (LTC) insurance a good investment?
The platonic guardians of retirement advise us to buy long-term care insurance. Protect your family from the devastating costs of nursing homes, they say. You are supposed to start chipping in premiums at a young age like 55, building up equity that covers you much later in life.
My advice: Maybe don’t.
Get one-on-one guidance from insurance specialists in choosing insurance policy features that specifically target your needs.
These licensed experts will help you avoid overspending on a policy.
From our award-winning consumer education campaign to our portfolio of leading national carriers, look to LTCA as your #1 source for long term care solutions in all 50 states and The District of Columbia.
See the Long-Term Care Products Available Where You Live.
The primary responsibility of a mutual insurance company is to ensure that the long-term benefits promised to its policyholders are secure and protected. By remaining a mutual, New York Life can continue to manage for the long term, instead of the quarter-to-quarter orientation of the investment community.