Tips on long-term care insurance

Published: July 18, 2007, 12:37 pm

When something goes wrong with a long-term-care policy, who are you going to call? Usually, it's the folks at your state insurance department. Sadly, at that point they may not be able to do much to help. Just ask the 11,000 Pennsylvanians who got socked with premium increases of 30 to 50 percent several years ago for policies on which they had dutifully paid premiums since the 1980s or '90s top-quality policies, too, from CNA, one of the nation's leading insurance groups. In some states, regulators stepped in to limit CNA's rate hikes. Pennsylvania officials said they were powerless. In essence, policyholders had to pay for CNA's mistaken projections of how many people would let their policies lapse after years of paying premiums and of the magnitude of claims from those who stuck with their coverage. Sometimes, regulators can help avert problems before they happen, by helping consumers choose insurers and policies judiciously at the outset. There may be no kind of

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