My mother bought a low-balled policy that was packed with benefits

When long term care insurance was first conceived and offered, back in the 1980's, most LTCi premium rates were much lower than today's policies. Why have they increased so much and why are long term care insurance companies raising premiums on existing policies?
Well, for one thing, many long term care insurance polices today offer significantly more benefits than the old 'nursing home only' policies. Due to consumer demand as well as consumer protection laws being passed, long term care insurance policies of today have less restrictions (As with any contract, always read the fine print!). The more an insurance company has to pay out, the higher the premiums with be.
Other reasons, besides the all too prevalent inflation, are that long term care insurance companies had no previous actuarial data to crunch. For instance: Cheap sexy clothes How long would a person pay before going on claim? How many would die before collecting benefits? How much money would the long term care insurance company need to pay out in claims? And finally, would the company's product sales and investments provide enough assets to keep them viable?
Insurance companies didn't have past experience with long term care claims, plus competition was stiff. As years ticked by, many companies offered more benefits while keeping their premiums quite low. Some even sold low-priced policies to people with health conditions that would likely lead to long term care. This was a big mistake.
My mother bought a low-balled policy that was packed with benefits. She paid about $1500 a year for 5 years.Angel Costumes wholesale After 3 year's worth of recent rate increases, her premium has more than doubled. As strokes and Alzheimers run in our family, we're hoping that the insurance company doesn't increase her premium many more times.
Are we upset that Mom's premium has increased so much? Yes and no. No one likes unexpected, unpleasant changes and certainly no one wants to pay more for insurance, but we do appreciate that she has been protected against catastrophic long term care costs all these years, whether she used the insurance or not.