Bankers Life and Casualty LTC
- Thread starter dcouch
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- long term care
- 15,041
The premiums will stop going up when he ends the policy. All LTCi policies are subject to rate increases, unless it is a paid-up policy. Apparently Bankers has had some bad claims experience or high costs and felt a rate increase was necessary. It appears the state agreed.
I'm not familiar with their policy in particular, so I can't tell you how their pricing is, and you didn't give enough information to make a comparison. However, most on her seem to feel that they are overpriced on most of their products. It is probably the same on LTCi. If he is still in good health, he might want to talk to an agent that works that market and see if a replacement would be a good idea.
I'm not familiar with their policy in particular, so I can't tell you how their pricing is, and you didn't give enough information to make a comparison. However, most on her seem to feel that they are overpriced on most of their products. It is probably the same on LTCi. If he is still in good health, he might want to talk to an agent that works that market and see if a replacement would be a good idea.
- 141
They probably have a Cost of Living or Inflation protection rider. They should be able to remove that rider.
Usually, BL&C will offer alternatives to their clients-such as extending the elim. period or shortening the pay out period.
In any case, they should shop around if both the husband and wife are in pretty good health. There are some A+ rated companies out there which means they are better financially sound. I think BL&C is at a B rate.
In any case, they should shop around if both the husband and wife are in pretty good health. There are some A+ rated companies out there which means they are better financially sound. I think BL&C is at a B rate.
- 1,641
I've seen a few of these where the default response from Bankers is to reduce the pool or the monthly benefit, leave the client with a zero day elimination period.
