LTCi Myths

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 […]

The Des Moines Register recently wrote an editorial on long-term care insurance

The Des Moines Register recently wrote an editorial on long-term care insurance.  (“Long-term care policies have their risks”, Sunday, September 21st, 2014) Everyone has a different opinion about long-term care insurance.  But if the largest publisher in Iowa is going to draw conclusions about long-term care insurance, the least they should do is some basic research into […]

“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 […]

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 […]

One woman who had 3 different outcomes when she applied for long term care insurance.

Recently one of my associates asked me about a client of his who had been declined for long term care insurance.  She’d applied for coverage with a company that her financial advisor had recommended for her and she was declined because of “sticky platelet syndrome” (SPS).  ”Sticky platelet syndrome” is a blood disorder that is […]