Update on LTC Insurance

Remember a while back I described how Long Term Care Insurance works?  Remember how I said to plan on paying your premiums on time for a very long time - like forever?  Here is a comment from a DR (Dear Reader) (Wow, I actually have one!) about a recent WSJ piece announcing that Prudential will no longer sell individual LTC policies.

"Today's (3/8/2012) Wall Street Journal had an interesting piece  headed Prudential Pares Long-Term Care.  Prudential is no longer selling long-term care insurance, but I love this.  It "would honor existing policies and contract terms so long as premiums are paid on time."   Italics and underscore mine.   My thoughts--when you're old, that's one of the things that gets forgotten--bill paying can be less precise.  I saw that with my mom, with XXX's mom.  So pay those bills on time or put them on autopay or something. And don't get hospitalized so your bill-paying is delayed.  Or that policy will be useless.  After the announcement Prudential stock rose $1.03."

Michael