People sought after CNA long-term care insurance policies because the policies offered many benefits, the pricing and underwriting were competitive, and the agent commissions were lucrative.
My experience is based on working for one of the CNA insurance distributors from 1998 to 2001.
CNA and other long-term care insurance companies underpriced their policies, creating tremendous problems for consumers who bought LTC products from CNA, John Hancock, Genworth, Transamerica LTC, and other companies.
Companies increased prices on existing policies and/or reduced consumer benefits.
As an FYI, the CEO of Genworth recently announced that CareScout is looking to enter the LTC market.
State programs like the California LTC Insurance Program were also affected by companies exiting the market.
By 2003, CNA exited the individual LTC market.
Long-Term Care Insurance Products by CNA
It’s hard to come by information for the LTC policies sold in the 1990’s.
Fortunately, we assembled information about CNA long-term care products offered in 1999 to show you what they offered then.
Continental Casualty Company is the parent insurance company for CNA.
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CNA touted the Preferred Solution LTC products as some of the most comprehensive policies available.
Three options were available at that time:
Preferred Solution 1
The Preferred Solution 1 (PS1) was CNA’s most comprehensive long-term care insurance policy.
If you could afford it, this was the policy you bought.
Preferred Solution 1 Benefits Included:
Home & Community Care – covered occupational, physical, respiratory, speech, etc. Care could be provided by nurses, social workers, friends, or neighbors.
Medical Technology – Covered the cost of monitoring, diagnostic, dispensing equipment, and mobile telemedicine with video capabilities.
Flexible Home Care – This policy feature provided coverage for additional types of care that may be created.
Respite Care – Gives your family member or friend taking care of you time off to recharge.
Additional Benefits & Discounts
In addition to the above, the Preferred Solution 1 product offered:
Spouse Discounts – a 20% discount was available to each spouse when both bought coverage.
Waiver of Premium – When consumers chose this rider, the policy waived both spouses’ premiums if one spouse received long-term care benefits. There was also a survivorship benefit available that waived all premiums should one spouse die.
Shared Advantage Rider – The policy provided additional long-term care benefits you and your spouse could share.
Preferred Solution 2
The Preferred Solution 2 (PS2) policy offered basic comprehensive care at a lower price than PS1.
Preferred Solution 2 Benefits Included:
- Home and Community
- Respite Care
- Informal Caregiver Training
- Medical Help Device Benefits
- Family Care Benefits
- Facility Care Benefits
- Waiver of Premium
Preferred Solution 3
The Preferred Solution 3 offered only basic care in a facility, covering both assisted living and nursing home care needs.
Preferred Solution 3 Benefits Included:
- Facility Care
- Assisted Living Facility
- Bed Reservation
- Waiver of Premium
CNA Long-Term Care Insurance Login
A company called illumifin administers CNA LTC policies.
The following information is current as of 2/19/2024
CNA Long Term Care Insurance Website – https://ltcpolicyhub.com/cna/
You may request forms on this portal, including claim, authorization, beneficiary, and billing method change forms.
Other ways to contact CNA include:
CNA LTC Insurance Phone Number – 800-775-1541
Claims – 800-262-1037
| General | Premium Payments |
|---|---|
| CNA Individual Long Term Care P.O. Box 64912 St. Paul, MN 55164-0912 | CNA Individual Long-Term Care P.O. Box 64912 St. Paul, MN 55164-0912 |
Group CNA Long-Term Care Insurance Information
If you bought CNA LTC through work or an affinity group you belong to, your policy is most likely a group contract.
| General | Premium Payments |
|---|---|
| CNA Group Long Term Care Insurance P.O. Box 64887 St. Paul, MN 55164 | CNA Group Long-Term Care Insurance P.O. Box 64887 St. Paul, MN 55164 |
Frequently Asked Questions
You have questions about CNA; we have the answers.
Final Thoughts
Gone are the old long-term care insurance products from CNA, John Hancock, and GE.
The traditional long-term care insurance policies were a great idea, but the pricing was inaccurate.
Today’s hybrid life insurance/long-term care policies offer guarantees that will serve you now and in the future.
Examples include MoneyGuard Fixed Advantage, CareMatters II, and Asset Care.
