If you’re looking into long-term care coverage, you’re probably doing it because you want peace of mind. I get that. These policies are meant to protect your savings when you need help with daily living, assisted care, or nursing home services later in life.
So let’s answer the main question right away. When people talk about the worst long-term care insurance companies, they usually mean providers with repeated complaints about steep premium increases, denied or delayed claims, policy changes after purchase, or poor customer service when it matters most.
What follows is not a hit piece. Every company listed here is legitimate and regulated. Many still sell policies or service older ones. However, based on consumer complaint data, regulatory actions, policyholder experiences, and long-term performance issues, these insurers have earned a poor reputation among many policyholders.
I’m writing this from a consumer-first point of view, using plain language, real examples, and industry terms explained as we go. If you’re considering a policy or already hold one, this will help you understand where problems tend to show up and what to watch for.
10 Poorly Rated Long-Term Care Insurance Providers
Before breaking down each company, here’s a quick comparison table to help you see the common problem areas at a glance.
| Company Name | Primary Issues Reported | Policy Status | Common Policyholder Complaints |
| Genworth Financial | Repeated premium hikes | Still servicing policies | Rate increases, claim delays |
| John Hancock | Cost increases, complex rules | Active with hybrid focus | Eligibility disputes |
| MetLife | Exit from market | Closed to new sales | Limited servicing options |
| CNA Financial | Claims handling | Mostly legacy policies | Slow approvals |
| Unum | Strict benefit triggers | Closed LTC line | Denied claims |
| Transamerica | Pricing instability | Hybrid products only | Confusing policy terms |
| Bankers Life | Sales practices | Active | Misunderstood coverage |
| Mutual of Omaha | Rate adjustments | Active | Rising costs over time |
| Thrivent Financial | Limited flexibility | Member-based | Narrow coverage definitions |
| AIG (American International Group) | Policy restructuring | Legacy policies | Reduced benefits |
Each of these companies earned its place on this list for different reasons. Let’s walk through them one by one so you understand exactly where policyholders ran into trouble.
Genworth Financial
Genworth is often the first name people mention when discussing problematic long-term care coverage. At one point, it was the largest provider in the U.S. That scale became part of the problem.
Many Genworth policyholders purchased coverage in the 1990s and early 2000s, when pricing assumptions underestimated how long people would live and how many would file claims. As a result, the company requested premium increases from state insurance departments year after year.
For some customers, premiums doubled or even tripled over time. I’ve seen cases where retirees on fixed incomes were forced to reduce benefits, shorten benefit periods, or drop coverage altogether because the cost became unmanageable.
Common issues reported include:
- Premium increases approved by state regulators
- Long waiting periods for claim decisions
- Requests for repeated medical documentation
- Limited options when trying to modify policies
While Genworth continues to service policies and pay claims, the financial pressure placed on long-term customers has been significant.
John Hancock
John Hancock still has a strong brand in insurance and investment products, but its long-term care track record has drawn criticism, especially from owners of traditional standalone policies.
One issue that comes up frequently is benefit eligibility. Policyholders often assume that once they need help with activities of daily living, benefits will start quickly. In practice, many report lengthy assessments, follow-up reviews, and disputes over whether care needs meet policy definitions.
Another concern is pricing. Like several competitors, John Hancock implemented substantial rate increases on older blocks of business. Some policyholders faced annual adjustments that far outpaced inflation.
Typical complaints include:
- Confusing elimination periods
- Disagreements over home care eligibility
- Rate increases after many years of payments
- Slow communication during claims
The company now focuses more on life insurance policies with long-term care riders, but legacy policyholders still report frustration.
MetLife
MetLife exited the long-term care insurance market years ago, and that decision still affects policyholders today.
When an insurer stops selling new policies, customer support resources often shrink. Policy servicing is typically transferred to a third-party administrator, which can change the experience dramatically.
Former MetLife customers have reported:
- Difficulty reaching knowledgeable representatives
- Delays in claim processing
- Confusion during policy changes or benefit elections
- Reduced flexibility compared to active insurers
Even though MetLife continues to honor existing contracts, the lack of active market participation has made many policyholders feel like an afterthought.
CNA Financial
CNA is better known for commercial insurance, but it once offered individual long-term care coverage. Many of those policies are still in force, and complaints often center on claims handling.
Policyholders report that CNA applies strict interpretations of benefit triggers. For example, needing help with two activities of daily living may not be enough if the assistance does not meet the insurer’s internal criteria.
Real-world issues include:
- Multiple nurse assessments required
- Claims approved for shorter periods than expected
- Frequent reassessments that interrupt benefits
- Administrative delays during renewal periods
For older policyholders already dealing with health challenges, these hurdles can feel overwhelming.
Unum
Unum’s reputation in the disability insurance space has carried over into how people view its long-term care offerings.
The most common concern involves denied or limited claims. Policyholders often describe situations where care providers recommend assistance, but Unum disputes medical necessity or functional impairment levels.
Examples shared by policyholders include:
- Denial based on technical definitions
- Narrow interpretation of cognitive impairment
- Short benefit approval windows
- Extensive paperwork requirements
Unum no longer actively markets traditional long-term care coverage, but legacy customers still report ongoing frustrations.
Transamerica
Transamerica remains a recognizable name, but its experience with long-term care products has been uneven.
Earlier policies were often priced aggressively, which later led to premium adjustments. Some customers purchased coverage believing costs would remain stable, only to face increases years later.
Other common complaints involve policy complexity. Riders, inflation options, and benefit multipliers sometimes create confusion when it’s time to file a claim.
Reported issues include:
- Unexpected cost increases
- Difficulty understanding benefit calculations
- Disputes over home health care coverage
- Slow policy updates
Today, Transamerica focuses more on hybrid policies, but earlier buyers still navigate these challenges.
Bankers Life
Bankers Life frequently comes up in consumer complaints related to sales practices rather than outright claim denial.
Many policyholders say they didn’t fully understand what they were buying. Some believed they had comprehensive nursing home coverage, only to learn later that benefits were capped or restricted.
Problems reported include:
- Policies sold to older adults without clear explanations
- Coverage limitations not fully disclosed
- Difficulty adjusting policies after purchase
- Higher-than-expected out-of-pocket costs
While Bankers Life continues to sell policies, the company’s sales approach has drawn regulatory scrutiny in multiple states.
Mutual of Omaha
Mutual of Omaha is still active in the long-term care space and generally maintains a better reputation than some competitors. However, it appears on this list because of consistent complaints around rate increases.
Many customers who bought policies decades ago experienced repeated premium adjustments. While increases were often approved by regulators, they still created financial strain.
Common policyholder concerns include:
- Annual premium increases
- Limited downgrade options without losing value
- Confusing inflation riders
- Long-term affordability issues
Claims are usually paid, but the long-term cost burden remains a major pain point.
Thrivent Financial
Thrivent operates as a membership-based organization, which creates a different relationship with policyholders. That said, its long-term care products have faced criticism.
One frequent issue is limited flexibility. Policyholders report narrow definitions for covered services and fewer customization options compared to competitors.
Reported challenges include:
- Restricted provider networks
- Limited home care coverage
- Conservative benefit approvals
- Member-only structure complicating service access
For members expecting broad coverage, these limitations can come as an unpleasant surprise.
AIG (American International Group)
AIG once played a major role in the long-term care market but has since pulled back significantly.
Policyholders have reported policy restructuring, benefit reductions, and changes in administrative procedures. While these changes may be legally permitted, they often feel disruptive.
Common complaints include:
- Policy modifications over time
- Reduced inflation protection
- Administrative delays
- Difficulty coordinating care payments
AIG continues to honor contracts, but the experience for many legacy customers has been far from smooth.
Find clear, research-based breakdowns of financial companies on FinTech Revo .Com.
Conclusion
Long-term care insurance is meant to reduce stress, not add to it. Yet for many policyholders, dealing with certain insurers has done exactly the opposite. The companies discussed here are not scams, and they do pay claims. The issue lies in how often customers face rising costs, confusing rules, and resistance at the point of need.
If you’re shopping for coverage today, the biggest lesson is this: read every definition, ask how premiums have changed historically, and understand exactly what triggers benefits. If you already own a policy from one of these providers, reviewing your coverage and options now can save you major headaches later.
I’ve learned that the fine print matters more in long-term care insurance than almost any other type of coverage. Knowing where others have struggled helps you make a more informed decision and protect both your care and your finances down the line.
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Frequently Asked Questions
Why do long-term care insurance premiums increase so much over time?
Premium increases usually happen when insurers underestimate how long policyholders will live or how many people will file claims. Medical advances, longer life expectancy, and higher care costs force insurers to adjust pricing on older policies. Unlike health insurance, long-term care policies are designed to last decades, so early pricing mistakes often show up years later.
Can I switch long-term care insurance companies if I’m unhappy with my provider?
In most cases, switching is difficult once you’re older or have developed health conditions. New insurers typically require medical underwriting, and coverage may be denied or priced much higher. Many policyholders choose to adjust benefits instead, such as reducing daily payouts or benefit periods, to keep premiums manageable.
What happens if my long-term care insurance company stops selling new policies?
When a company exits the market, existing policies remain legally valid. Claims are still paid, but servicing is often handled by third-party administrators. This can mean slower response times, less flexibility, and fewer knowledgeable representatives compared to companies actively selling new coverage.
How can I tell if my long-term care policy is likely to have future problems?
Warning signs include a history of frequent premium increases, vague definitions of care eligibility, and complex policy riders that are hard to interpret. Reviewing annual policy statements, rate increase notices, and state insurance filings can help you gauge whether your coverage may become harder to maintain or use later.
Should I keep paying for a long-term care policy with a poor reputation?
That depends on your age, health, premium level, and available alternatives. For some people, keeping an imperfect policy is still better than having no coverage at all. Others may benefit from consulting a licensed insurance advisor to evaluate benefit reductions, policy exchanges, or alternative care planning options.
