Is Long Term Care Insurance worth the cost?
A recent CNN/Money magazine article poses the question: “Is Long Term Care Insurance worth the price?” One could easily ask the question the other way around in order to explore and debate the the issues surrounding this important type of insurance. As the article points out, there have been some substantial rate hikes recently by a few of the major insurers. The cause? Well, put simply, people are living longer and thus filing more claims and using their Long Term Care Insurance benefits at a higher rate than the actuaries anticipated years back. While these rate and premium increases[…]