ltcfacts

Letter to the Editor of the Des Moines Register

In 2003, the Iowa Insurance Division (IID) foresaw the need to protect Iowans from uncontrollable long-term care insurance rate increases. Therefore, the IID enacted a Rate Stability Regulation effective February 1st, 2003. (Iowa Administrative Code 191—39.26 & 39.28) Policies purchased in Iowa before February 1, 2003 are not protected by this regulation. Policies purchased in […]

Kiplinger’s Personal Finance on Long-term care insurance

“The reports of my death have been greatly exaggerated.”–Mark Twain

For years “experts” have concluded that the long-term care insurance industry is dead.  Here are some of the headlines: “What’s killing the long-term care insurance industry?”  Aug. 2012 “Long-term care insurance begins to fade away”–New York Times, Nov. 2010 “When a Safety Net is Yanked Away–is Long-Term Care Insurance Doomed?”–NYT Nov. 2010 Crumbling Economics Undermines […]

Sometimes even smart people don’t understand long-term care insurance–even if they write for a leading magazine

I understand that journalists don’t have time to check all their facts, but this recent article in Forbes is riddled with falsehoods and half-truths.  It doesn’t even read like something a journalist would write.  It sounds like he’s just a salesman hawking for “longevity annuities”. If you want to suffer through the article in one […]

Focus on the Major Benefits–the “fuzzy dice” are not important!

Nearly everyone who receives care today receives that care either at home or in some type of facility–care that is provided by loving, compassionate people. I’m quite certain that 30 years hence, care will still be provided by loving, compassionate people either at home or in a facility–making the point of this article moot. Since […]

A “perfect” long-term care policy?

If you could design “perfect” long term care coverage for yourself, what would it look like? I recently asked someone this question and she said: “It should have premiums that are guaranteed to never go up.  It should be able to return most, if not all, of my premiums to my heirs if I never […]