Is there any way to recover any of the money I have paid into a long term care insurance plan?
Question Details: For almost 15 years I have paid around $2,000 per year for a long term care insurance. Now the company is raising the premium by 15% with a note that it may not be the only increase. The options they give me are to accept a reduced benefit, accept a lowered time period during which they would pay, or to opt out altogether. If I opt out I lose almost $30,000. The other 2 options are also unacceptable to me. I entered this contract in good faith and have never had to use it but I am now nearing an age when I may need it. Is there any path by which I can get the money back to reinvest elsewhere or am I just out of luck? It seems so unfair.