Kerry Peabody interviewed by the Portland Press Herald
Rates for long-term care insurance continue to increase. It’s leaving many consumers looking for clarity around why this is happening and what they should do in response to rising costs.
Kerry Peabody, senior account executive at Marsh McLennan Agency and an expert on long-term care insurance, spoke with the Portland Press Herald about the reasons behind these rate increases and his advice for policyholders. He says many who purchased long-term care policies decades ago are now seeing significant rate increases because the initial policies offered by carriers were not appropriately priced. He added that this problem is national and not unique to Maine, and policyholders should consult a broker before making any policy changes.
