By Debi McGrady

Countless people will not contemplate writing a will for a variety of reasons, it can be a difficult talk to have with family so folks put it off, and some people might not believe they own enough assets or money to justify a will. Writing a will not only helps keeps everything in order and simplifies the supervising of your estate after passing on, but it is not a costly thing to do either, with the cheapest will writing available from 60 pounds from some solicitors.

So when someone dies without a will, what happens next? To render it into legal lingo it would be called dying “Intestate”, at this point it is the law/state that will have final say on who deals with the probate and who inherits. The court will not just decide on Joe Bloggs off the street to deal with the estate, each nation state will have some sort of series order protected in law, for example purposes we will use the run order in England, Wales and N.

Ireland (Scotland has its own, more complex succession order, so it is best to keep it separate), it goes without saying the basic outline of the order will in all possibility be the same in most nation states and only fluctuate when it comes to the finer details. Whichever nation you are in one facet is bound to be universal, and that is the fact that depending on the complexity of the estate, it can take anywhere from months to years for the probate to be finalised on an estate.

So whomever is at the summit of the succession tree better be primed, as for the succession it works like this, the spouse or civil partner will come before all others, next step down is the deceaseds child or children then followed by parents, if the late person has a partner but was unmarried they are not included in the succession. After this point it slides down into grandparents, uncles and aunties, if there is absolutely no one to disperse the estate, “The Crown” will select someone, though if there is no one to conduct the estate it doubtless means there is also no one to inherit; ergo the estate will pass to The Crown.

Just in case anyone is puzzled by this, The Crown simply refers to the Government in this instance; the estate will pass to the tax collector to do with as it sees fit. If you are worried it might fall this far, go to: http://www.direct.gov.uk/en/Governmentcitizensandrights/Death/Preparation/DG_10029802 for more complete information, it will seldom fall this far down the pecking order.

To become the overseer an application for a grant of “Letters of Administration” will be essential, it will act as legal proof for banks, building societies and any other organisations you have to deal with that you and you alone have the right to access the deceaseds accounts. To acquire the grant, you can make a personal application or the solicitor you have working on the probate can make the submission on your behalf, the choice is yours.

At this point it is important to point out that, while the word probate is used here, strictly, in law and legal terminology it only refers to a case where there is a will, however in practice, even without a will present this part of the administration is also called probate, most likely just to avert more confusion in the process. One other thing to be aware of in relation to the grant is that before it can be granted, any Inheritance Tax (IHT) expected on the estate must be paid to the taxman, the current IHT threshold at the time of writing stands at 325k, if the estates assets break above this level 40% tax is levied by the Treasury.

The rare time a grant will not be required is if the estate is held joint with someone else, evidently the other holder of the estate will deal with what takes place next, moreover if the estate is valued below 5k a grant is most likely not needed either, although that will depend on personal circumstances.

Lets discuss what happens in Scotland, dying without a will falls under the Succession (Scotland) Act 1964, which is amended when it needs to be, i.e. to include civil partnerships and other changes along a related line. The succession line for administration will again be along a related line with the rest of the Britain, however the devil is in the detail and certain people can leapfrog upwards depending on circumstances, for a good comparison between Scotland and the rest of the UK look at the table on this website: http://www.primewills.co.uk/dying_without_will.htm.

To learn more about who administers a Will-less estate this webpage should also have all the information you need at http://www.scotland.gov.uk/publications/2003/08/17011/21439. So that wraps up what happens without a will, I think you will agree its worth writing one and sparing loved ones such hassle at a stressful time, offering peace of mind to you and your family.

About The Author

Debi McGrady works at http://www.JustLifeInsurance.com a site dedicated to providing free life insurance advice, and market leading life insurance quotes.

By Jordan McPelt

For those who own a construction company, any kind of loss by cause of time and materials and also injury usually transpires and this is why you”ve got to be certain that the firm may need a construction claims consulting company that will help take care of your needs.

Construction claims are usually common, particularly when you manage individual parties like plumbers, electricians, carpenters and other contractors necessary to finish a task. Your individual construction claims consultant will stand for your interests. Whether you might need to file a claim to pay somebody or if a person records a claim towards your organization. These people will establish the validity of any cases. They will also help you in getting ready for your own personal claim.

There are some claims consulting professionals who deliver decades of hands-on claims administration as well as claims handling expertise in assessing their clients” claims operations from the ground up. Their service offers combined technical assessments of claims making use of broader management concerns. They will generate suggestions that deal with the whole scope in their client’’s procedures and practices.

These specialists carry out their investigations deeply by looking at claims operations to discover unique opportunities for improvement, so that companies would then have the ability to set up timely and suitable case reserves and also dispositions of their claims. Their comprehensive experience of the insurance industry enables these people to develop quantitative and qualitative claim assessments so that you can obtain a clear understanding of the actions necessary to control losses and expenses.

The commitments of the claims consulting specialists ought to make you realize what it is they do. This is particularly appropriate should the adviser give you some similar services with competitive businesses. This should definitely be part of the arrangement.

Prior to the time period when the entire disability insurance market was in trouble, the market had a lower number of resources and there was less scrutiny of claims nevertheless, clients around the United States usually realize that they require legal representation in the claims procedure. These professionals make it easier to pursue all proper aspects of a claim and also help you bring it to a solution at the earliest possible date.

There are many claims consulting pros that help in supporting in the pre- and also post-loss design along with the acknowledgment of strategies that could most likely reduce the financial impact of events. These Claims professionals implement a thorough analysis report on their clients” loss history along with all current claims management programs, such as carrier, third-party administrator and also adjuster contracts and internal processes. This investigation helps them in providing a number of tips for advancements that target operational efficiencies and cutbacks in the ultimate price of claims.

This can be accomplished by communicating the outcomes using economic terms, in presenting ongoing advice for additional opportunities that could offer sustainable improvements. Additionally, you will profit from enhanced cash flow and decrease in collateral as well as claims administration expenses.

About The Author

Filing a disability claim can be a confusing process & the insurance companies know this. Some will use every tactic to avoid a huge payout. For this reason it is essential to hire a qualified disability insurance attorney from a well respected disability insurance law firm. A long term disability lawyer will make sure you get the money you deserve. For more information visit, http://www.disabilityinsurancelawyers.com or http://www.disabilityinsurancelawyers.com/practice_areas/more/erisa-appeals

By Louise Slee

You can”t drive a motor vehicle without insurance; the law says so. Commonsense says exactly the same thing as, whether you”re driving a motorcycle, car or minibus, having no insurance could leave you paying out for a lifetime in the event of a claim.

A minibus, defined as a vehicle with nine to 16 seats, may be used in any of a number of roles. It could transport fare-paying passengers as a taxi, hotel guests, employees, nursing home residents, schoolchildren, local authority staff or charity workers and their charges. Some of these uses require specialised elements in insurance cover but let’’s begin with the basics.

The minimum level of minibus (or any vehicle) insurance cover is Third Party, often contracted to TPO (Third Party Only). This really is the barest minimum insurance cover and if you are considering it as the best, then the words ”false economy” spring to mind.

Why? Well, consider this scenario. Your minibus is running perfectly well on the road. You”ve been driving for a while so you pull in for a coffee. While drinking your hard-earned latte, you see your hard-won minibus driving away with a thief at the wheel. Should you be worrying? You should if you have TPO insurance. Your minibus is gone and unless it’’s found, you won”t be buying another because you weren”t insured for theft. Could things be worse? Yes, if your minibus is damaged or destroyed by fire, there’’s no fire insurance either.

Potential events like these explain the popularity of Third Party, Fire and Theft insurance for minibuses and other vehicles. Is this contracted to TPF&T? Yes, although generally, the cover usually insures your passengers too, as in TPFT&P (Third Party, Fire, Theft and Passenger). These parameters give cover against liability for the death of and/or injury to third parties, as well as against liability for damage to others” property. The legal costs in connection with claims against your insurance policy are generally covered too.

Minibus insurance, like most things, has a top-of-the-range choice. This is Comprehensive insurance, which covers all the above and more. Damage to the minibus’’s windscreen and windows, post-accident medical expenses and the replacement of personal effects lost to fire, theft or accident damage may also be covered. Any good insurance provider will have the details of what is and isn”t insured.

Insurance matters don”t end here, regardless of whether the vehicle in question is a minibus or another kind of vehicle. Tailored extensions can usually be added to your insurance policy, to suit the use to which the vehicle is being put. For example, using a minibus on the Continent may warrant extended cover, while European breakdown cover is usually offered and is well worth buying. In some countries, you may need a Green Card, which proves that your insurance complies with the laws concerning the minimum level of cover. However, this is no longer essential in EU countries, all 31 of them. In those countries where a Green Card is required, it will allow a minibus to be driven there for a maximum of 90 days. Your insurance provider may supply a green card where necessary but if not, will probably be able to arrange for one to be sent to you.

As is often the case, it’’s better to have more insurance than you need than to need more insurance than you have. Ensure you have the former, with the aid of your provider - and the small print.

About The Author

Louise Slee is a Web Marketer and driving enthusiast for over 25 years, with no penalty points to date! See her articles at http://www.minibusclub.co.uk/ where she imparts some useful driving and travel tips when you are out and about in your minibus

By Bobby Roughfield

There is no doubt that choosing the right health insurance for you and your family is a very important decision in which you need to ensure that your requirements are met at an affordable price. In this article we will look at some of the fundamental requirements that you need from health insurance and the best way of finding a quotation to meet them.

There are several objectives of private health insurance. The primary one is to cover the cost of obtaining health care for acute medical conditions from which you might anticipate making a full recovery though equally important is being able to access private consultants directly and fast tracking access to important diagnostic tools.

The advantage of private care over the NHS is that you can bypass waiting lists, select your place and time of treatment, and enjoy such facilities as a private room should you need to spend nights in hospital. You can also chose your consultant and ensure that you are seen by him or her directly rather than by an assistant.

Different health insurance policies offer different kinds of cover and come with a range of different prices. Some offer only very basic and limited cover whilst others offer very comprehensive cover. Before getting a quote you should consider the type of cover you require. For instance do you need to be able to choose which hospital and which consultant? Do you require private consultations? Do you need to include dental treatment? Is health screening important to you? The choices you make will have a significant effect on the cost of your policy.

Some policies are priced according to your age and your health history and provide a basic plan which tends to be inflexible, whilst others can be tailor made to meet the specific requirements of you and your family.

There are several ways for setting up health insurance but, as with many things nowadays, the simplest and most straight forward way to do it is online. Unsurprisingly there are a number of comparison websites that will allow you to quickly compare prices, and see at a glance what is covered by the policies from a large range of companies along with their basic restrictions concerning age and medical history.

However, comparison websites are not always the best way to locate the best deals available. Some health insurance companies will allow you to tailor your health insurance plan online so that you can rapidly see the effect on the cost of adding and excluding specific items and of adjusting the levels of cover that you require. This is the ideal way of obtaining an online quote that covers the items that are specifically important to you and your family’’s needs.

About The Author

Bobby Roughfield is a health insurance journalist. For straightforward, cheap and flexible health insurance check out http://www.health365.com

By Bobby Roughfield

There is no doubt that choosing the right health insurance for you and your family is a very important decision in which you need to ensure that your requirements are met at an affordable price. In this article we will look at some of the fundamental requirements that you need from health insurance and the best way of finding a quotation to meet them.

There are several objectives of private health insurance. The primary one is to cover the cost of obtaining health care for acute medical conditions from which you might anticipate making a full recovery though equally important is being able to access private consultants directly and fast tracking access to important diagnostic tools.

The advantage of private care over the NHS is that you can bypass waiting lists, select your place and time of treatment, and enjoy such facilities as a private room should you need to spend nights in hospital. You can also chose your consultant and ensure that you are seen by him or her directly rather than by an assistant.

Different health insurance policies offer different kinds of cover and come with a range of different prices. Some offer only very basic and limited cover whilst others offer very comprehensive cover. Before getting a quote you should consider the type of cover you require. For instance do you need to be able to choose which hospital and which consultant? Do you require private consultations? Do you need to include dental treatment? Is health screening important to you? The choices you make will have a significant effect on the cost of your policy.

Some policies are priced according to your age and your health history and provide a basic plan which tends to be inflexible, whilst others can be tailor made to meet the specific requirements of you and your family.

There are several ways for setting up health insurance but, as with many things nowadays, the simplest and most straight forward way to do it is online. Unsurprisingly there are a number of comparison websites that will allow you to quickly compare prices, and see at a glance what is covered by the policies from a large range of companies along with their basic restrictions concerning age and medical history.

However, comparison websites are not always the best way to locate the best deals available. Some health insurance companies will allow you to tailor your health insurance plan online so that you can rapidly see the effect on the cost of adding and excluding specific items and of adjusting the levels of cover that you require. This is the ideal way of obtaining an online quote that covers the items that are specifically important to you and your family’’s needs.

About The Author

Bobby Roughfield is a health insurance journalist. For straightforward, cheap and flexible health insurance check out http://www.health365.com

By Neil Anderson

You already know that if you own a minibus and it is used to regularly transport people about you need some form of minibus insurance to help protect yourself and your passengers. The task can be terribly daunting when there are so many firms available to choose from with similar options. The key is finding a reliable company that’’s there for you when you need them. Look for sites that have live support available constantly whether by phone or via chat on the sites themselves.

Once you know that the support is already in place it’’s then time to check out the options and what is apparently important to the insurance company you”re looking at. Some of the main things you want for coverage are multiple usage, payment options, coverage for breakdowns, and easy claim management. When it comes to claim management many companies make it very difficult for you to file a claim on your insurance and you don”t want this. It’’s hard enough to go through any accident, theft, or other damage causing incidents without having to also deal with an impossible claims department.

In addition to this, you want to ensure that you have ease of payment. While it’’s possible in this day and age to do your banking via the internet, your mobile phone, in person at the bank, wire transfers, and other options, some companies don”t offer a full range of payment options. Look for convenient choices that won”t cost you a lot of money in order to pay for your premiums. You can also look for options that fit your budget. Perhaps you can afford a couple of thousand pounds in a year for your minibus insurance but you can”t afford to pay it out in one sum - some companies offer commercial insurance on a monthly or quarterly basis in addition to yearly premiums.

You”ll also want to ensure that your break down coverage is complete and will suit your needs. It may happen that your minibus breaks down when you”re not full of passengers, but it could occur when you”re at full capacity. Look for minibus insurance that gives you the ability to get your passengers safely to their destinations while your minibus is taken care of with regards to repairs and the like. It’’s very important that your business not be interrupted too much.

Finally, to ensure that you have the best options available to you, make sure that your minibus insurance search includes companies that offer multiple use options. Did you know that if you own a minibus and use it at any time for personal errands you may not be covered for an accident? Some policies stipulate that any accidents that occur outside the realm of ferrying your passengers to their destinations you won”t be covered! This is quite unacceptable for most people, considering you may need to drive your minibus to a mechanic for repairs on occasion. These are the things you need to make sure you”re looking at before settling on a minibus insurance company.

About The Author

Neil Anderson is a UK based finance specialist. Find out more information about Minibus Insurance at his preferred site http://www.dna-insurance.com/

By Neil Anderson

If you are in the business of buying or selling cars, repair vehicles or just work with vehicles, then you must have the motor trade insurance policy to cover you against any damages caused to the vehicles or to the people working on those vehicles.

Now this policy is available as a generic offer from many insurance service providers and many in the trade just avail of the same without either knowing that a bespoke policy can be worked out specifically to suit company requirements. It is only when they are faced with something beyond their policy coverage that they start looking for the extra features.

It is therefore advisable to contact a broker who can get you the best deal on the policy and also inform you about the various extra features or optional add-ons that you may also consider taking onboard. These would include damage to material, risks on the road while travelling and so on. While the coverage of road risk is a mandatory and legal requirement, material damage cover refers to the risks faced at the warehouse, while being transported, your vehicle stock and customer vehicles.

There is also cover available for Public Liability as well as Employers Liability. You can even opt for Business Interruption cover that provides your business protection against any loss of man days as well as losses to the business arising out of any accident like a fire or vandalism. Cover under the Commercial Legal Expenses category would also enable you to cover any legal fees that you may have to spend fighting a case.

The reason to think seriously in taking all of these is that when you are busy with your business, you do not want anything unfortunate to happen and put you in a fix regarding compensation to your employee, a customer’’s vehicle or any material that you are carrying on behalf of a customer. Lack of cover would expose you to compensation claims that have the potential to put you out of business. Moreover, you would not want to spend your time and effort fighting legal battles and would want to use every ounce of your energy and time to focus on your business in order to make it grow and make it profitable.

Now all of the above extra options may not be required to be taken along with your motor trade insurance policy as it is likely you are already covered. However as long as you are aware of the possibilities, you can discuss them with your broker and request him to get you the best deal from the service provider. A good broker would also be able to get you no claim bonus discounts or introductory discounts as the case may be. All this would lead to significant savings on your premium amount.

Unlike other insurance products, you would not be able to understand the nuances of a motor trade insurance policy online and it is advisable that you establish contact with a representative from the broker’’s office to work out your specific requirement and conclude the deal.

About The Author

Neil Anderson is a UK based finance specialist. Find out more information about Motor Trade Insurance at his preferred site http://www.dna-insurance.com/

By Phoenix Delray

Obtaining a cell phone tower lease can be a strenuous mission if one does not contain the proper education on the matter. There can be a lot of information to digest depending on ones location and goals on minimizing the risks involved. While erecting cell phone towers is becoming a more popular factor in the real estate business, they can sometimes be a hassle. Anyone that is considering doing this should seek guidance from established agents in their area.

The first thing that needs to be addressed when leasing cell phone towers is to find out how to maximize the revenue. Of course, anyone that has been working in the real estate business for a while knows that this is the primary goal for every property. At the same token, there are obligations that also can be an element to worry about. A thorough investigation around the property will help one calculate revenue and risks factors that can be generated. Also, having easy access and flat land is the ideal choice when obtaining a cell phone tower lease.

Thusly, it is also widely known that cell towers can take up to 2,000 to 2,500 square feet. Many areas require a variance on certain properties and this is especially true with cell towers. All the permits and other necessary approvals from the proper authorities lay heavily for the greenlight on the towers construction. Regarding terms, a cell phone tower lease can last up to 20 to 25 years. A five year installment plan can be implemented or even full term if one desires so. According to the lease, the carriers should be able to have access to the site at any time, or they risk losing it to a competing company. Also, having proper insurance coverage is extremely important with cell towers because of environmental contamination that can happen. Sometimes, cell phone towers are prone to releasing toxic chemicals into the environment which can turn ones tower into a liability.

Even though it seems like a monstrous project to take on, building cell phone towers can be done fairly easily if one follows the rules. Even though it can be many hurdles to overcome, in the end it will be worth it. The revenue alone will be worth all the trouble it took in order to build ones tower. Having a cell phone tower lease will benefit ones career in the real estate business and help other people around the local area as well.

About The Author

To learn more about Cell Phone Tower Lease, please visit our website at http://www.md7.com

By Sherry Moore

Nowadays getting life insurance is a question of vital importance for most Toronto citizens. No matter what age group you belong to or what you do for living secure life is what you actually crave. You can consider life insurance as an option here. Of course you would be contented to find a reliable and fast way to get life insurance quote, wouldn”t you?

By getting insurance you minimize your chances of being taken by surprise whatever happens. That is to say, you will always be protected from troubles that fate can bring. Most insurance holders living in Toronto admit that life insurance is a guarantee of person’’s stability and security. And this is really so! Just think the following over. Can you be sure about tomorrow? Can you shelter you family in case you are not around? Mind you, life insurance can guarantee the positive answers to these questions and therefore infuse confidence in tomorrow.

People want to be sure in their future. They do everything to protect themselves and their loved ones from all bad and unexpected that life can bring. That is why insurance is becoming more and more popular. With each day insurance market is creating wider range of policies in order to meet specific demands of customers. If you get one, it”ll become way easier to foresee and solve the problems due to the policy you have. Now that you”ve made your mind you can get a quote fast and easy!

These days the Internet is the easiest way to get what you want. Life insurance quotes are not the exception. Everyone can experience the benefits of getting them via the Internet. It’’s easy and accessible way ever! All you have to do is to define your needs. Then fill in the request form and send it.

If you look back, life insurance had been the only way to guarantee security. Time changed. So did insurance market. Over time it evolved in wide range of insurance plans available for everyone. Even though insurance market expanded considerably life insurance still appears to be the basic and the most important one. When it comes to insurance, no matter whether it’’s life, health, car insurance, you will definitely start with evaluating your budget. Toronto insurance companies consider this condition while customizing insurance quotes for their clients.

You can get life insurance quote via the Internet without any problems! Everyone knows that time is money. By getting your quote through the Internet you won”t lose a cent as you spend only a couple of minutes for doing that.

About The Author

Sherry is a Blogger who writes about insurance, personal finance, debt and bankruptcy. More information about car and life insurance here: http://www.insurancebrokerstoronto.net

By Anthony Cruz

After you decide how much to buy, you can compare various term policies, see which are the cheapest and most practical, and buy the least expensive one that fits your needs. Longtermcare insurance seems just as simple at first. Its purpose is to protect you from a very real, very scary possibility that one day you might be unable to take care of yourself. If you wind up in a nursing home or need extensive assistance at home, you will face catastrophic costs that could eat up every dollar you ever earned.

The average daily rate now for a stay in a nursing home is $183, or nearly $67,000 annually, an expense that after a few years would sink all but the very welloff. And prices will go up. If they rise a bit faster than inflation, by 2026 the daily rate could hit $486 a day, or $177,000 a year.

Insurance looks like the solution the customary mechanism for sharing a potentially devastating financial risk with thousands of other policyholders. And it can work.

Take the case of David and Kristi Schubbe of suburban Minneapolis. Starting in 2002, when she was only 61, Kristi became forgetful and had difficulty performing routine tasks such as following familiar recipes. After three years David became unable to care for her, even with a home aide. He found a nearby nursing facility that specializes in Alzheimers patients.

I knew when I saw it, this is where I want my Kristi, he says. The bill is $5,400 a month, but their longtermcare policy, which the Schubbes bought in 2001, covers the entire expense. Insurance helped make the tragedy manageable.

Says David: It took the financial element out of when to go [into a home], where to go and how to do it.

What if the Schubbes had not purchased insurance? Medicare would not have helped because it doesnt pay for long nursinghome stays. Medicaid might have paid about 43 percent of nursing home residents eventually qualify but only after David had exhausted much of the couples assets. (Transferring assets to relatives is almost impossible because the government penalizes you for having given money to others within the previous five years.)

States set strict limits on how much money the spouse not in care can retain. In Minnesota, for example, the spouse can keep half of the couples assets up to about $100,000, plus their home (with as much as $500,000 in equity).

Finally, some nursing homes will not accept Medicaid, so relying on it would have diminished the Schubbes options. Longtermcare insurance, however, has plenty of catches.

First, you may pay thousands of dollars in annual premiums, possibly for decades, even after retirement when you have a smaller income; if you stop paying, you can lose your coverage and everything you put in.

Second, you have to look far into the future and guess what kind of care you will need and how much it will cost. Most disturbing, perhaps, some insurers business practices have recently cast doubt on how much you can trust them to hold up their end of the deal.

In the past few years many policyholders have faced exorbitant rate increases sometimes 40 percent or more. And a rash of lawsuits complain that insurers are delaying or unfairly denying the claims of some of their most vulnerable policyholders.

A Chinese menu of benefits

Decent health insurance will pay for anything from a flu shot to triplebypass surgery. Longtermcare insurance offers no such blank check.

You have to define longterm care the way your contract defines it, not by the way you might actually need it, says Robert Friedland of the Georgetown University LongTerm Care Financing Project.

A policy pays a set daily rate for a nursing home stay or other care, say $100 or $150. The higher the rate you select, the higher your premium. And if the day rate increases to $250 by the time you need care and your policy specifies $100, youre on the hook for the rest.

Some policies will raise the benefit with inflation, some wont, and the formula differs from policy to policy. How long will the policy pay? For your lifetime, if you can afford such coverage, or for the number of years you select.

To qualify for coverage, you must typically be cognitively impaired or unable to perform a certain number of activities of daily living (ADLs), usually two. Some policies offer coverage only for home care; others cover nursing home stays plus adult day care or assisted living. Some policies waive premiums while youre in care; others keep charging you.

To choose a policy, buyers must sort through enough permutations and combinations each with its own price tag to do a Chinese restaurant proud.

The risk of rate hikes

The Schubbes were in good health when they bought, so they were able to get coverage for themselves for a $3,000 annual premium. Those who have health problems like diabetes, cancer or arthritis will pay higher premiums. Or in the worst case, they might not qualify at all.

Insurance sales people point out that you can lessen that risk by purchasing a policy when youre young. The premiums would likely be low, and most insurers promise that they will not hike your rates because of age or health problems. But insurers can still raise rates for other reasons and often do. They may have to pay more claims than they expected, for example.

Lester Watts, 72, and his wife Judy, 61, of Clive, Iowa bought a longtermcare policy from Equitable Life & Casualty two years ago. Their premium was $280 a month. Within the year, however, the insurer won the right from the state to raise its rates. The couples premium would rise to about $360 a month. It all smacks to me of a bait and switch, says an angry Lester Watts.

The insurer says that new policyholders like the Wattses were notified at least a year before the rate increase went into effect, giving them time to cancel. Rather than do that, however, the Wattses have decided to reduce their benefits to keep their premium level.

Prices that keep heading skyward could eventually force you to drop the policy. At that point you may lose your coverage and all the money you paid. Youll be hard put to find a cheaper policy elsewhere, since you are older now than when you first bought, and a worse insurance risk.

You are more or less married to an insurer and you cant really change, says John Rother, director of policy and strategy for AARP, the retirees lobby. (AARP also markets a long termcare policy from MetLife.)

Rate hikes may slow. Regulation is improving, and Jesse Slome of the American Association for LongTerm Care Insurance argues that insurers have learned from experience how to price policies more accurately from the start. Thats plausible. But you may not know for decades whether theyre right.

About The Author

Anthony Cruz has been marketing for his clients for over ten years through his media contacts. Visit http://www.darraslaw.com/ for additional information.