(Article from 2008 – For more up to date info, please see our home page.)
Today, according to Reuters, Conseco said its net loss was $53.7 million, or 29 cents a share, compared with earnings of $38.9 million, or 26 cents a share, in the year-earlier quarter. This is alarming to anyone holding a Conseco Long Term Care Insurance policy. A company that is losing money will have a much better time increasing long term care insurance rates.
All of the companies we offer are highly rated by independent authorities such as AM Best. In the last 12 months, Conseco shares have fallen about 24 percent compared to a more than 2 percent gain in the Standard & Poor’s Insurance Index – more reason to consider other A and A+ carriers like Genworth, MassMutual, Mutual of Omaha, John Hancock, and Prudential.
Why is Conseco having problems?
In August insurance rater A.M. Best Co. downgraded Conseco’s credit ratings by two notches, leaving it at the very bottom of the investment grade category. The company is blaming much of its problems on the current credit crunch and its exposure to subprime mortgage loans.
Consider other Long Term Care Insurance polcies.
Allow us to provide you a comparison of strong products that can provide you the peace of mind that you are buying when you purchase long term care insurance.
