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Different folks have different experiences. In my experience a great portion of people buying LTC purchase lower priced policies and they have experienced large premium increases such as the CalPers number. I have had a policy for over 10 years no increase. We handle affairs for a person whose purchase was in the mid 90s from the same company - no premium increase.

The field is not unlike the HMOs generally in the 80s and HMO Medicare plans in the 90s. Insurance companies entered into a field and many under estimated the long term costs. That same situation exists today with the Medicare Advantage plans. These are not, in view viable, without the $600 per year premium buy down from traditional medicare. If the $600 annual payment is removed, the plans will raise premiums and/or cut benefits - the same things that happened with HMOs in the 80s and 90s.

LTC insurance is a niche product in the sense it is easy to have too little income/assets or too much income/assets to justify purchase.

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