Trans America has applied for a national rate increase on all new long term care sales. This will affect new business only and will not change rates for current clients. The rate changes being applied for are substantial and are part of a trend for LTC discontinuance and rate increase from most LTC carriers. Genworth, Mutual of Omaha and John Hancock recently raised rates. Met Life and Prudential stopped selling new plans going forward. To see the average cost of long term care in Connecticut (Click Here)
Read the Press Release below….