- Report: #1136471
Report - Rebuttal - Arbitrate
Complaint Review: Metropolitan Life Insurance Company
Metropolitan Life Insurance Company477 Martinsville Road Liberty Corner, New Jersey USA
Metropolitan Life Insurance Company MetLife Beware of Metlife Long Term Care Inssurnce Liberty Corner New Jersey
*Consumer Comment: It also has just a "little" to do with the skyrocketing cost of elder healthcare...
*Consumer Suggestion: I think if you read your WRITTEN policy you will find it covers probable price increases..
*General Comment: no....
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In 2004, I was sold long term care Insurance for my wife and I by a Metlife representive. We were told that Metlife had been in the business since 1986 and were experts in the business. We told that there was little or no chance of a premium increase and if so, they would be minimal. In 2010, we got a notice of a 17% increase. We just received another 25% increase in 2014. When I called the North Carolina Insurnace commision, they told that MetLife had applied for a 58% increase so you know we will be facing another increase in the near future.
It is appears Metlife's plan is to sell their Long Term Care Insurance at a reasonable rate when you are young and do not need it and as you get closer to the age of possibly using the benefits, raise the prices so high you can no longer afford the insurance.
This report was posted on Ripoff Report on 04/05/2014 12:32 AM and is a permanent record located here: http://www.ripoffreport.com/r/Metropolitan-Life-Insurance-Company/Liberty-Corner-New-Jersey-07938/Metropolitan-Life-Insurance-Company-MetLife-Beware-of-Metlife-Long-Term-Care-Inssurnce-Li-1136471. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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