I purchased a Metlife Group Insurance LTCI plan through my employer in 1998 before I retired. I just received a letter from my employer and Metlife informing me that Metlife has discontinued the sale of Employer Group and Individual LTCI products. My previous employer chose Unum as the new carrier for their Group LTC insurance.

I have the options to continue with Metlife on a direct bill basis or to replace my Metlife coverage with comparable coverage with Unum without having to undergo medical underwriting. Metlife is seeking a sizable premium increase however the premium is still lower than the Unum quote.

My question is: if I stay with Metlife, what are the long term risks of staying with Metlife? How does ever-decreasing pool of people with Metlife LTC insurance affect future premium increases? Can the coverage be cancelled at a later date?

Metlife doen't sell LTCI at all anymore, but Unum only sells group, not individual, so...I don't know that future rate increase risk favors one over the other. If the Metlife is substantialy less expensive ( 20-30%??), I'd say stay put with them. If you go with Unum, you know you will pay more immediately, and still be subject to future increases too. Unum is a guaranteed at once premium increase...no thanks. IMHO....The only way any of them can cancel is if you stop paying the premium. You, of course, can cancel anytime.