And I've NEVER seen an insurance-sponsored study on the cost of LTC that subtracts out the monthly expenses the elderperson will no longer have.And for a single person, that is very relevant. For a couple, not as much since the other spouse will still have their same expenses which include utilities, insurance, food, clothing, etc. on top of the new expenses for the room and board of their nursing home spouse.I haven't looked at all of them, but most of the major insurers are getting out of the true insurance part of LTC by either capping annual benefits or capping payout periods...again like dental insurance.Back when I was in this industry, circa 2002 - 2003, all the policies I worked with had such caps. I don't see that as anything new. Perhaps there were some with no limits and no caps but I never saw any.I also don't see how this is any different than a car or home policy, which both also have caps.as these go year to year with full portability between carriers.How so? If you get cancer, you are not likely going to be able to apply to a new LTC carrier. If you get a DUI, your are also not likely going to be able to move your car insurance to another carrier as cheaply or easily - if at all.
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