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Re: PFL 30% Rate Increase?

Posted by Peggy on March 08, 19101 at 19:23:20:

In Reply to: PFL 30% Rate Increase? posted by Stephen R. Eads, CLU on February 08, 19101 at 19:26:38:

: I understand that Aegon (PFL's parent company) is increasing rates on an earlier PFL product line/version of LTC insurance. Does anyone know what product(s) are to be affected and in what periods of time those products were sold to the public? Consumers AND agents need to know.

EVERY insurance company will have a premium increase if you live long enough. EVERY one. Getting upset about this makes as much sense as getting upset when gasoline prices go up. It's going to happen. A good agent will help policyholders adjust their benefits if necessary so they won't have to cancel. Some LTC plans have a 10-year paid up option which is recommended for younger applicants - after paying for 10 years, the policy is paid up for life. It wouldn't matter if premiums were increased, since the policy is paid up.

Follow Ups:

Re: PFL 30% Rate Increase? : : I understand that Aegon (PFL's parent company) is increasing rates on an earlier PFL product line/version of LTC insurance. Does anyone know what product(s) are to be affected and in what periods of time those products were sold to the public? Consumers AND agents need to know. : EVERY insurance company will have a premium increase if you live long enough. EVERY one. Getting upset about this makes as much sense as getting upset when gasoline prices go up. It's going to happen. A good agent will help policyholders adjust their benefits if necessary so they won't have to cancel. Some LTC plans have a 10-year paid up option which is recommended for younger applicants - after paying for 10 years, the policy is paid up for life. It wouldn't matter if premiums were increased, since the policy is paid up.

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