According to many industry experts, long term care policies are drastically under priced and will require substantial rate increases in the future. If so, they could suffer the same fate as many disability income policies. Aetna is reported to be in discussions to buy NYLCare Health Plans, the health-care subsidiary of New York Life. The technology is said to be compatible with home office systems. Agents can get commission, policyholder and product information.
Customers can view account balances and histories, as well as do transactions.
As we predicted, virtually all companies will have these types of Internet services. The Institute of Certified Financial Planners considers it an improper use of the designation. Don't be surprised if other designation-granting organizations follow suit. The changes, which take effect for the January 1998 CPI, are the first since 1987. It does appear to be a tough risk to insure.