My LTC premium

MetLife is the provider of Long Term Care insurance for Lucent retirees who have signed up with them. Notice of increased premiums approved by State regulators are being mailed. Please post your experience and comments for others to read.

My LTC premium

username
Joined: 28 Sep 2010, 14:50

18 Nov 2012, 21:29 #1

I received my premium update. WAS: $42.49 WILL BE: $50.99 quarterly an 18% increase.
I will stay with MetLife.
I'm 79 years, live in Florida and have had the policy for about 20 years.
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miwirepicker
Joined: 12 Jun 2008, 01:07

17 Dec 2012, 02:05 #2

I live in MI and took out my Long Term policy in 1992. I have been notified that my premium will go from $181.30 quarterly to $217.56 quarterly. Iwas offered the ability to maintain my orig premium but my policy will only pay $100 per day vs. $120 per day. Ihave elected to go this route. I have been paying into this since 1992 and the only thing that hasn't gone up is my pension. I am 80 years old and in pretty good health so I now wonder if I'll ever collect anything on this policy but feel obligated to continue on after the investment I've already made.
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criket
Joined: 24 Oct 2008, 16:16

18 Dec 2012, 16:48 #3

miwirepicker wrote:I live in MI and took out my Long Term policy in 1992. I have been notified that my premium will go from $181.30 quarterly to $217.56 quarterly. Iwas offered the ability to maintain my orig premium but my policy will only pay $100 per day vs. $120 per day. Ihave elected to go this route. I have been paying into this since 1992 and the only thing that hasn't gone up is my pension. I am 80 years old and in pretty good health so I now wonder if I'll ever collect anything on this policy but feel obligated to continue on after the investment I've already made.


would hope you never have to use it as it would mean bad health.better to have fire ins in case but you would prefer never to collect.
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newday
Joined: 24 Sep 2013, 14:27

15 Jul 2015, 19:16 #4

I just received another MetLife LTC package in the mail looking for another increase !!!

I went back into my records and when I originally took what I thought was a great offer in 2005 it cost me
$74.63 every quarter.

Now they want to raise the premium to $133.45 a MONTH !!!!!

Is there anyone out there that can help me and probably alot of others who paid into this LTC Insurance and now
have to either take reduced coverage or stop it all together.

Don't tell me I should have read the fine print.

Too bad we couldn't get back any of this premium - lol

Would like to hear from others in my situation.

Thanks
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my9cats
Joined: 21 May 2014, 13:12

16 Jul 2015, 12:10 #5

In 2003 I became a surviving spouse at age 53. In addition to losing the death benefit, LTC was not available to me so I took a top-of-the-line private policy with Metlife right after my husband died.
My costs are $454 a month, including inflation riders and no 3-5 year waiting period. I can protect my assets for my daughter. Yes it is expensive but I have no regrets and have peace of mind.
3 years ago, at 62 I was shocked to be diagnosed with MS. Had symptoms on and off for decades, many tests were done, but no one ever connected the dots.
In hindsight I am grateful to be the cautious person I am and made the financial sacrifice and took the policy. Don't need it yet. Maybe never will, but glad to know it is there and I will be able to remain in my home if matters get worse.
Yes I wish the payments were smaller but I have it and that's all that matters. I am grateful and don't complain. I would be ecstatic if my monthly payments were $133.45 a month.
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