This article was originally posted on CNN Money by an author unaffiliated with Capital Investment Advisors.

If you have long-term-care insurance, get ready for sticker shock.John Hancock wants to hike premiums for the bulk of its customers by an average of 40% this year; Genworth Financial (GNW, Fortune 500) is asking for an 18% increase on some policies; and other insurers are expected to follow. Meanwhile, MetLife (MET, Fortune 500) has stopped selling the insurance altogether.   

What's going on? People are living longer and using more benefits than anticipated."Insurers miscalculated bigtime," says Cameron Truesdell, CEO of one of the largest long-term-care insurance brokerages. Rock-bottom interest rates exacerbate the problem, since insurers rely on bond income to pay claims. 

In most states, regulators must approve rate hikes, so the ultimate increases probably won't be quite as bad as they look.

New York, for example, has not allowed more than 15% in any year, says state actuary Earl Klayman. Even so, there's no question that policies -- which already run into the thousands per year -- are getting pricier. Given that new reality, does it still make sense to buy? Or if you have a policy, to keep paying? 

Read CNN Money Magazine Article: http://money.cnn.com/2011/01/24/pf/long-term-care_insurance.moneymag/index.htm. This article was originally posted on CNN Money by an author unaffiliated with Capital Investment Advisors. As a part of our effort to disseminate important relevant information to our clients, we frequently post articles from other sites on topics of interest. The information posted in this article does not necessarily reflect the views of our firm.