Personal Finance

Policyholders: Hold the line on long-term care insurance rate hikes

A stream of frightened and disappointed customers urged state regulators Friday to prohibit insurers MetLife and Unum from doubling premium costs for long-term care policies.

Several MetLife policyholders said they were recently notified that their premiums would increase 95 percent this year — two years after they were hit with increases of 15 percent to 19 percent.

The state Office of Insurance Regulation held a public hearing at Florida International University in North Miami to give insurers and their customers an opportunity to make their cases. The hearing was held in South Florida because a majority of affected policyholders live in Miami-Dade and Broward counties.

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