I am still learning much about the Internet. I recently created a LinkedIn group for long-term care insurance producers and others. There have already been some interesting discussions between the members and I'd encourage you to consider joining.
I'm not 100% sure how to join groups ... but I know you can do so by first getting linked to me (which I'm happy to do). Go to:
If there's a better way ... let me know.
Once on my LinkedIn page, you want to click on the the group Long-Term Care Insurance Producers. (Look on the lefthand side at the top). You do NOT want the one USA - AALTCI (someone smartly created that group ... not me ... and thus I can not monitor or make sure it serves what I believe is the intent).
Anyway ... there are currently about 101 participants ... and some good stuff.
American Association for Long-Term Care Insurance
Below is one of the questions and responses that I believe will be of interest.
Question from Kathleen Smith
After the latest news on Penn Treaty, I revisited the AALTCI 2009 Sourcebook article on State Guaranty Associations. I know that LTCi is protected up to $100,000. But, what does that mean to policy holders not on claim? If they have a 5 year/$250,000 policy benefit does their premium remain the same with it being paid to the State? If so, is their premium adjusted to reflect a $100,000 policy benefit rather than a $250,000 benefit pool compounding annually? ...
The response which I obtained from Sean McKenna at the National Association which comprises all the State Guaranty Associations.
The new NAIC Guaranty Association Model Act recommends $300,000 for LTC coverage. A number of states either have passed the new model limit or have it under consideration now. In answer to your second question, no, the premiums do not decline.
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