Bar Bulletin

December, 2004

An Important Time to Consider Long-Term Care Insurance
by Sally H. Leimbach

While there is a great deal of attention in the press about the benefits and value of long-term care (LTC) insurance, many issues surrounding the industry remain uncertain; for example, what will be the amount of future claims, and what will be the effect of policy lapses and future interest rates? As a result, some insurance carriers have chosen to exit the business, while others are raising rates on existing policies or launching new products with revised rate structures. In addition, some companies’ policies that now offer lifetime benefits may soon be discontinued and replaced with policies with shorter term benefits.

What does this mean to you? Waiting to make an informed decision regarding the purchase of an LTC insurance policy could be costly, not only in terms of premium costs but also in terms of the type and duration of benefits offered.

Whether you are doing your own planning or working with clients, it is important to determine if LTC insurance should be a part of your strategy to manage the risk of needing long-term care and to act promptly to obtain the most effective coverage.

Sally H. Leimbach, CLU, CEBS, CLTC, is a Long Term Care Insurance Specialist with FranklinMorris, Coordinating Broker for the Bar Associations Insurance Agency, Inc. For more information on insurance benefits available to MSBA members, visit



Publications : Bar Bulletin: December, 2004

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