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LTC premium cost

Posted by Michael Hood on July 16, 2001 at 09:22:32:

I keep reading here and elsewhere that a consumer should shop and find the lowest premium for comparable benefits. However, it appears to me that we are buying a benefit to be paid in 25 years for a need the insurance company cannot specifically define which means the insurance company actually doesn't know how to price the product. Therefore, all premiums will increase. And, the more liberal the benefit definitions of the product, the more the premium will increase. Therefore, to be overly price focused versus, looking financial strength of an LTC insurance carrier and commitment to the market is somewhat short sighted. Am I missing something?

Follow Ups:

Re: LTC premium cost Kelly Wentz, CSA 16:08:25 11/16/01 (0)
Re: LTC premium cost Kelly Wentz, CSA 16:07:25 11/16/01 (0)
Re: LTC premium cost Steve Eads, CLU 13:19:12 07/17/01 (1)
- Re: LTC premium cost Margaret Hobson 21:36:55 02/03/02 (0)
Re: LTC premium cost Scott A. Olson, CLTC 11:16:51 07/16/01 (0)

Re: LTC premium cost : I keep reading here and elsewhere that a consumer should shop and find the lowest premium for comparable benefits. However, it appears to me that we are buying a benefit to be paid in 25 years for a need the insurance company cannot specifically define which means the insurance company actually doesn't know how to price the product. Therefore, all premiums will increase. And, the more liberal the benefit definitions of the product, the more the premium will increase. Therefore, to be overly price focused versus, looking financial strength of an LTC insurance carrier and commitment to the market is somewhat short sighted. Am I missing something?

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