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Long-Term-Care Insurance: A Long-Term Issue

As the legislature once again starts plowing through the latest attempt at homeowners' insurance issues, many lawmakers and consumers have pushed other vital types of insurance concerns to the

By Phil Galewitz | Updated on May 31, 2007

As the legislature once again starts plowing through the latest attempt at homeowners’ insurance issues, many lawmakers and consumers have pushed other vital types of insurance concerns to the side–and do so at their own peril. While those homeowners’ premiums and deductibles seem large now, they are nothing compared to cost that individuals face when it comes to aging and health care.

You might call long-term-care coverage the Rodney Dangerfield, or the ugly stepchild, of the insurance industry. It gets no respect. After all, since companies began marketing the first policies in the 1970s, there have been predictions of rapid growth to match the aging of America’s population. But so far, such pontifications have remained a far-off fantasy and there’s no sign long-term care insurance will turn into a Cinderella story any time soon.

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