The largest U.S. life insurer MetLife announced on Nov. 11 that will stop selling long term care insurance starting in 2011 citing “financial challenges.”
At the same time, a number of LTC insurance providers have asked to increase rates substantially. Despite the cost increase, more than 10 million Americans need long-term medical services and that rate is expected to rise as our population ages, according to an October 2009 report by the Henry J. Kaiser Family Foundation.
