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csalter said:
Non-custodial care in my state tops 100k per year today how do you plan to self insure cheaper than insurance coverage.
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- Thread starter Arthur Rudnick
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Non-custodial care in my state tops 100k per year today how do you plan to self insure cheaper than insurance coverage.
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"how do you plan to self insure cheaper than insurance coverage."
Norwayguy,
It always gets back to denial doesn't it?. These folks that want to self-insure just do not believe they will ever need care. Think about it. If you really believed you might need LTC at $100,000 a year or more for an undetermined number of years, spending money on a LTCi policy is the smartest way to plan. Any other plan, IMUO, is simply not believing an LTC event will happen. Period.
When I talk to a non-believer, I don't waste my time. I move on. You will not change them. Just find folks that understand the risk, folks that have had to spend the money, or know someone who did. Then it's simply a matter of policy design, underwriting, and finding the best value.
I just had to get that off my chest.
Norwayguy,
It always gets back to denial doesn't it?. These folks that want to self-insure just do not believe they will ever need care. Think about it. If you really believed you might need LTC at $100,000 a year or more for an undetermined number of years, spending money on a LTCi policy is the smartest way to plan. Any other plan, IMUO, is simply not believing an LTC event will happen. Period.
When I talk to a non-believer, I don't waste my time. I move on. You will not change them. Just find folks that understand the risk, folks that have had to spend the money, or know someone who did. Then it's simply a matter of policy design, underwriting, and finding the best value.
I just had to get that off my chest.
I guess you really have a need for concern.
Umm, are you aware that NY Life just repriced significantly more than Genworth and Tranny combined?
Just saying.
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No, I had not read anything about them raising their rates. However, I meant on existing policies and not new policies. From what I am lead to believe those two have not ever raised rates on people after they bought their policies. Is that not true?
Well, this entire thread is about eliminating/reducing discounts and/or repricing entry points for new business. It is not about "raising rates."
Yes, NYL and NWML have not raised rates. But NWML's premiums have always been very high. NYL, on the other hand was priced dirt cheap for the 40-55 year old buyers for years. Would not be surprised if NYL has a future rate increase because they have a lot less room to play with on it's old rate structure.
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