Long-term care insurance policy costs rising

Source: Christine Dugas, USA TODAY

Long-term care insurance helps cover expenses that typical health insurance doesn't, such as nursing homes, in-home care and assisted living. Insurance companies have been making major adjustments because the claims on long-term health care policies have exceeded their predictions The reason: People are living longer and developing long-term illnesses, says Deb Newman of the Life Foundation. Meanwhile, near-record-low interest rates have depressed what the industry earns on the premiums it collects.

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