Broker World

Sales Of Traditional Long-Term Care Insurance Policies Continue To Fall

Americans bought only about 60,000 stand-alone long-term care (LTC) insurance policies in 2018, down 13 percent from 2017. Only about 15 carriers were actively selling policies, and five of them accounted for more than three-quarters of the market, as measured by premiums. The grim news was included in the latest version of an authoritative annual survey of long-term care insurance [...]

By |2019-07-03T12:05:24-04:00July 3rd, 2019|long-term care insurance|9 Comments

Stand-alone  Long-Term Care Insurance Continues To Fade Away

Only about 89,000 people bought private long-term care insurance in 2016, a nearly 14 percent decline from 2015, according to an industry survey.  Nearly all were bought in the individual market, though about 15,000 people purchased coverage through their jobs. The sales decline continues a stunning trend. At the market’s peak in 2002, consumers bought 750,000 traditional policies, eight times [...]

By |2018-02-14T12:43:53-05:00September 8th, 2017|long-term care insurance|1 Comment

Consumers are Buying Less Long-Term Care Insurance Coverage

It is no secret that fewer consumers are buying long-term care insurance—annual sales are only about one-third of what they were a decade ago. But it turns out that those who are still buying are purchasing less coverage than ever, even though long-term care costs are rising. When industry leader Genworth Financial Inc., which sold about one-third all traditional LTC [...]

By |2015-02-20T10:52:52-05:00February 20th, 2015|long-term care insurance|1 Comment

More Bad News for Long-Term Care Insurance: A Major Carrier Reassess the Business Amidst More Rate Hikes

Genworth Financial, the nation's largest seller of long-term care insurance, is engaged in an “intense, very broad, and deep review of all aspects of our long-term care insurance business,” president and CEO Tom McInerney told investors last week. Industry sources say the firm could withdraw from the market if it does not win regulatory approval for new rate hikes on [...]

By |2013-08-08T23:36:48-04:00August 8th, 2013|long-term care insurance|0 Comments