LTC Premium Increases

[VolAgent]

previously posted by VolAgent



Yup, with a LOT of sarcasm.
When you have to notify a policyholder of an increase, any increase, they could care less about increases to other policyholders. All they look at is their own. And, whether it's 5%, 10%, 50% or as in recent cases that I've had to deal with of 90% & 100%, they're pissed and rightfully so.

One couple's combined premium is $25,600/yr. 5% is $1,275.
The other couple is $21,369/yr, a $1,068 increase.

Yes, I understand how lucky they are. In the scheme of things one 5% increase in 10 years is no big deal. But, they're going to be unhappy and as their agent, I'm left to deal with it.

I get it, but sometimes you just have to put things in perspective.

Basically they got their flat tire in front of the mechanic's. It still sucks, but it sure beats having a flat 100 miles from anywhere.

 

[Arthur Rudnick]

previously posted by ltcadviser

Goddamn, them some New York premiums, Boy!

It's good to live in NY...................

Actually, both 10-pays were an executive carve-out on Simplicity.
High benefits = high premiums.