Can long term care premiums increase?

Question

At the moment, I am comparing ways to insure against future home care, assisted living, or nursing facility costs. At the moment, policy language includes benefit triggers, waiting periods, daily benefits, and possible premium increases. At the moment, the coverage could affect roughly $72,000 or more for my family, so I am paying close attention to exclusions, beneficiary rules, and what could cause the benefit to be reduced.

Soradin · Accepted Answer

Some policies allow class wide rate increases with regulatory approval, even though an individual's health alone does not set a later increase. For this insurance planning decision, long term care insurance may help pay for covered care at home, in assisted living, or in a facility when benefit conditions are met. Policies differ in daily or monthly benefits, duration, waiting periods, inflation options, exclusions, and premium stability.

Can long term care premiums increase?

Soradin

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