Too young to know the answer

[yankee466]

a few companies "go south"?
There have been 150 different companies that have sold long-term care insurance.
Only 3 LTC insurance companies have gone through liquidation and they were all very small with very low financial ratings.

Riversource is not a small company. They are the 15th largest LTC insurance company (in terms of the number of lives). They have almost 120,000 LTCi policyholders.

I wonder if they ever sold a LTC policy, or if they just inherited policies from others like Amex. Based on the current premium my client is paying for his 1995 plan, Riversource will go broke if he ever needs to use it.

 

[somarco]

Based on the current premium my client is paying for his 1995 plan, Riversource will go broke if he ever needs to use it.

They could have a contingency plan. Wise guy named Bruno, or something like that . . .

 

[Mr_Ed]

I wonder if they ever sold a LTC policy, or if they just inherited policies from others like Amex. Based on the current premium my client is paying for his 1995 plan, Riversource will go broke if he ever needs to use it.

OMG... all they did was change their name.

It used to be called IDS Life.
They changed their name to Riversource.

What's the big deal?