Few seniors have long term care insurance and this segment of the insurance business is not doing very well, at last report. One major insurance company got out of this business and another, John Hancock, asked for large premium increases. I believe the reason might be that there are too few insured seniors to spread the risk. It's just a bad deal all the way around.
My solution: Live a healthy lifestyle (don't take your health for granted) while saving as much money as you can, just in case.
|