[…] One of the most important lessons from the wave of recent premium hikes on long term care policies is to keep in mind that the premiums are not fixed. Although they don’t increase as frequently as health insurance premiums, they are not locked in the way term life insurance premiums are. Unfortunately, some agents might not have communicated this clearly to their clients. Other insureds might have had several years without a rate increase and started to think that the policies simply didn’t have rate increases after all. It’s important that agents who help clients select long term care coverage are clearly communicating the fact that the premiums can – and likely will – increase as the years go by. If the insured is stretching financially to cover the initial premiums, the long term care policy might not be the best fit.