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Re: GE

Posted by Scott A. Olson on August 06, 2002 at 22:05:51:

In Reply to: Re: GE posted by Alvin on August 06, 2002 at 19:51:05:

Alvin,

When a long term care insurer says that they have never raised rates, they mean that they have never raised rates on any policyholders. In other words, once a policyholder has purchased a policy, they have never raised that policyholder's rates.

It does NOT mean that they are charging the exact same rates today that they charged 20 years ago. Policies that were available 20 years ago were a lot cheaper than the policies offered today. Ofcourse, there are more benefits in today's policies also... Generally, long term care insurers develop new policies every two or three years and oftentimes, the 'new fangled policies' cost more than the previous policy series.

Scott A. Olson, CLTC

Follow Ups:

Re: GE Alvin 15:58:18 08/08/02 (2)
- Re: GE Scott Olson 16:37:15 08/08/02 (0)
- Re: GE Scott Olson 16:34:29 08/08/02 (0)

Re: GE : Alvin, : When a long term care insurer says that they have never raised rates, they mean that they have never raised rates on any policyholders. In other words, once a policyholder has purchased a policy, they have never raised that policyholder's rates. : It does NOT mean that they are charging the exact same rates today that they charged 20 years ago. Policies that were available 20 years ago were a lot cheaper than the policies offered today. Ofcourse, there are more benefits in today's policies also... Generally, long term care insurers develop new policies every two or three years and oftentimes, the 'new fangled policies' cost more than the previous policy series. : Scott A. Olson, CLTC

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