Consumer commentary regarding legacy long-term care insurance policies associated with Lincoln Financial highlights the broader industry challenges facing this type of coverage, specifically regarding steep, mandated premium rate increases over recent years. While policyholders appreciate the financial security and comprehensive care benefits provided when needing assistance with daily living activities, many express frustration over escalating costs. Because long-term care underwriting has shifted drastically across the entire insurance sector, insurers have frequently sought regulatory approval for rate hikes on older blocks of business.
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