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Prominent long term care insurance carrier Penn Treaty recently announced that it will discontinue offering the “unlimited lifetime” benefit option on all new policy forms as of 1/1/2007. Will other insurance companies follow suit? We think so, as the industry adjusts to changes in the all-too-real world of care and care giving.

With rising baby boomers life expectancies and broadening offerings in the care delivery systems “unlimited lifetime” benefits simply pose expanded and uncertain risk for insurers. This risk naturally translates to pricing which places “unlimited lifetime” benefit out of reach for the average consumer, so the insurers are opting to offer benefits which are limited to a fixed number of years payout or a limited “pool of money” payout.

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