The other day, a newspaper in my area — Southern California — ran a column about two local residents who are facing a sharp increase in the cost of their long-term care insurance (LTCI) policy.
Maybe you’re seeing similar articles in your paper.
When people ask about those articles, what do you say?
Here are my thoughts.
First, in some of those articles, the consumers and the writers might not have a clear understanding of what the increase really will be, or who allowed the increase.
Doing a little research might help you put what happened in context.
My understanding is that, in the article in my local paper, the couple had a policy written out-of-state. California insurance regulators had no responsibility for the increase.