Have you ever wondered if the long-term care insurance company you’re considering might actually do more harm than good?
Choosing the wrong insurer can cost you thousands—and leave you without the care you need most. In this guide, we’ll help you avoid the worst long-term care insurance companies and choose a provider you can trust.
Why Long-Term Care Insurance Matters
- Covers nursing home, assisted living, and in-home care.
- Protects your life savings from unexpected care costs.
- Gives you and your family peace of mind.
Signs of the Worst Long-Term Care Insurance Companies
Some companies consistently fall short when it matters most. Watch out for:
- Denied claims based on technicalities
- Surprise premium hikes after years of payment
- Delayed claim payouts that create financial strain
- Poor customer service during critical moments
- Low financial ratings or risk of insolvency
Top Consumer Complaints About LTC Insurance
1. Claims Denied After Years of Paying
Many customers report claim denials due to vague or restrictive policy language, even when care is clearly needed.
2. Massive Premium Increases
Some companies significantly raise premiums on older clients, leaving them with few options.
3. Delayed Payments
Delays in benefit disbursement can force families to front thousands in care costs.
4. Poor Customer Support
Hard-to-reach support or unanswered calls during emergencies is a major red flag.
5. Financial Instability
Companies with low financial ratings may not survive long enough to fulfill claims decades later.
Examples of Poorly Rated LTC Insurance Companies
According to the NAIC, online reviews, and financial analysts, these companies have faced consistent consumer criticism:
| Company | Common Issues | Financial Rating |
|---|---|---|
| Genworth | Claim delays, premium hikes | B or below |
| CNA Insurance | Denied claims, customer complaints | B+ |
| Bankers Life | Misleading sales, support issues | B- |
| Allianz | Challenging claim process | B |
Note: These companies are not outright scams, but they require deeper research before purchasing.
Recommended Long-Term Care Insurance Providers
Consider these well-reviewed alternatives:
- Mutual of Omaha – Transparent pricing and solid reviews
- New York Life – Excellent financial standing and plan options
- Northwestern Mutual – Strong claims history and flexible riders
How to Choose a Reliable Provider
- ✅ Check AM Best ratings (look for A or higher)
- ✅ Review the NAIC Complaint Index
- ✅ Ask for rate increase history before you buy
- ✅ Understand all exclusions and waiting periods
- ✅ Compare policies through an independent agent
Alternatives to Traditional LTC Insurance
If you’re unsure about long-term care insurance, explore:
- Hybrid life insurance with long-term care benefits
- Annuities offering LTC riders
- Self-funding using retirement savings
Summary: What to Avoid
Don’t get trapped with the worst long-term care insurance companies. Instead:
- Avoid companies with a history of denied claims or service delays
- Always verify financial health and complaint trends
- Work with advisors who represent multiple carriers
Your future care depends on today’s decisions—make them count.
FAQs: Worst Long-Term Care Insurance Companies
Are all LTC insurers bad?
No. Many provide excellent service. The key is to avoid companies with high complaint rates or unstable finances.
What happens if my insurer raises my premiums?
You may be eligible for reduced benefits or switching options. Contact your state insurance department for help.
Is LTC insurance still worth buying?
For many people, yes—but only if you avoid risky providers and read the fine print.
