Many of the policies experiencing rate increases were sold in the 1990s and early 2000s, and insurance companies assumed that 4 percent of policyholders would allow their policies to lapse. However, as policyholders grew older, they saw the importance of long-term care insurance coverage, and only 1 percent dropped their coverage. As a result, insurance companies had more people claiming benefits than they projected.
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May 24, 2021 at 12:05PM
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Help! My Long-term Care Insurance Premiums Could Increase by 503% - Inside INdiana Business
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