Up Go the Rates for Long-Term Care
Policyholders will pay more, but it's still a good deal.

John Hancock, one of the largest long-term-care insurers, plans to raise rates on policies it sold itself for the first time ever. It is filing for a rate increase on long-term-care policies sold in the 1990s and on some newer New York Partnership policies.
The changes will affect about 275,000 people, or about one-fourth of the company's long-term-care customers. Premiums will rise by 13% on policies originally issued by John Hancock; they'll jump 18% on policies that the company took over from Fortis in 2000. The average increase will be $21 per month ($252 per year). The new rates do not apply to group policies.
Premiums are heading up because John Hancock anticipated more people would drop their long-term-care coverage before collecting benefits. Genworth, another major long-term-care insurer, made a similar announcement a few months ago, raising its rates by 8% to 12% for 440,000 existing policyholders. Before these moves, the two companies were standouts for keeping premiums constant once a policy was sold.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Bottom line: Even if your rate increases, hold on to your policy. Most long-term-care insurers have raised rates for new buyers the past few years, so not only are new premiums on a higher plane in general, but you'll surely pay more because you are older and more likely to have health issues.
If the rate boost is a strain, shorten your benefit period to three years or drop the compound inflation protection (especially if you're in your seventies or older), rather than give up on the insurance altogether and get nothing for it.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

As the "Ask Kim" columnist for Kiplinger's Personal Finance, Lankford receives hundreds of personal finance questions from readers every month. She is the author of Rescue Your Financial Life (McGraw-Hill, 2003), The Insurance Maze: How You Can Save Money on Insurance -- and Still Get the Coverage You Need (Kaplan, 2006), Kiplinger's Ask Kim for Money Smart Solutions (Kaplan, 2007) and The Kiplinger/BBB Personal Finance Guide for Military Families. She is frequently featured as a financial expert on television and radio, including NBC's Today Show, CNN, CNBC and National Public Radio.
-
IRS 1099-K Threshold for 2025 Taxes Just Changed: What to Know Now
Tax Law After years of uncertainty and changing requirements, the 1099-K reporting rules for 2025 are now set, and the thresholds have changed since last year.
-
The 'Permission to Spend' Rules of Retirement Spending
Here’s how to spend guilt-free when you are in retirement.
-
Amazon Resale: Where Amazon Prime Returns Become Your Online Bargains
Feature Amazon Resale products may have some imperfections, but that often leads to wildly discounted prices.
-
Roth IRA Contribution Limits for 2025
Roth IRAs Roth IRAs allow you to fund your retirement with after-tax dollars while you're working, and then withdraw those contributions and earnings tax-free when you retire. Here's a look at 2025 limits and income-based phaseouts.
-
Four Tips for Renting Out Your Home on Airbnb
real estate Here's what you should know before listing your home on Airbnb.
-
Five Ways to a Cheap Last-Minute Vacation
Travel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
-
How Much Life Insurance Do You Need?
insurance When assessing how much life insurance you need, take a systematic approach instead of relying on rules of thumb.
-
When Is the Amazon Prime Big Deal Days Sale? Everything We Know, Plus the Best Deals on Samsonite, Samsung and More
Amazon Prime The Amazon Prime Big Deal Days sale is slated for early October. Here are the key details you need to know, plus some of our favorite early deals members can shop now.
-
How to Shop for Life Insurance in 3 Easy Steps
insurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
-
Five Ways to Shop for a Low Mortgage Rate
Becoming a Homeowner Mortgage rates are high this year, but you can still find an affordable loan with these tips.