To the Editor:
It appears that it is time to investigate the workings of long-term care insurance.
After paying, at the same rate, for ten years ( I am currently 79) the rates are skyrocketing. It’s obvious that Genworth, purchased through AARP, is trying to force people who have the possibility of needing the coverage, to drop the insurance, before any claims can be filed. Recent articles in the Virginia Beach newspaper state the small percent of premiums paid out by the long term care companies. Where has the major share of premiums gone? It’s beginning to sound a lot like Social Security. Money being spent and not reserved for the future. Perhaps AARP needs to better investigate companies before endorsing and promoting them to their members.
Village of Pennecamp