The 4 REAL Reasons Penn Treaty Failed and Became the Yugo of Long-Term Care Insurance
Scott A Olson, CLTC
![Scott A Olson, CLTC]()
Scott A Olson, CLTC
I help consumers, financial planners and members of the media evaluate long-term care insurance options.
Penn Treaty's assets were lower than every other long-term care insurance company.
Penn Treaty's financial ratings were the second lowest in the long-term care insurance industry. It's no surprise they went bankrupt.
Penn Treaty's pricing was about half what the rest of the long-term care insurance industry charged. It's no wonder they went bankrupt.
Penn Treaty’s best-selling policy would pay benefits if a policyholder needed help with only cooking and cleaning. That’s not an insurable risk. No other insurance company was silly enough to do that. It’s no surprise Penn Treaty went bankrupt.
