After paying Long Term Care Insurance through Genworth for 12 years at a cost of approximately $50,000.00. Genworth decided that the product class, (privilege care select 2 is what I am told we have) was a high risk category for them because of our age and the possibilities of our needing our insurance.
They increased our premiums 2 years ago and also this year by 25%.
This is legal for them to do. I just need to warn people who think they will have this product when they need it....because they will price it out of there reach, as they are doing to us.
Monetary Loss: $50000.