Do Americans Really ‘Get’ Long-Term Care Insurance?
While about 1 in 3 Americans believe they own some form of stand-alone LTC coverage or combination life/LTC insurance coverage, actual LTC ownership is closer to 3%.
Consumers Need Help Understanding LTC
Recent OneAmerica study reveals consumers are underprepared for a long-term care event.
Sales of Life-LTC combo products rebound in 2021
Sharp increase driven by current and proposed legislation according to LIMRA report.
Faced with a premium increase, LTCI policyholders choose to pay
The overwhelming majority of consumers experiencing a premium increase on their long-term care insurance chose to pay the higher premium, according to the findings of a new analysis released this week by the American Association for Long-Term Care Insurance.
2022 Linked-Benefit LTCI Price Index released by AALTCI
The first price index comparing leading linked-benefit long-term care insurance costs and benefits was released this week by the American Association for Long-Term Care Insurance.
Claims paid by long-term care insurers grew by $700 million in 2021
The nation’s long-term care insurers paid out $12.3 billion in claims during 2021, representing a significant increase over prior years according to new data from AALTCI.
IRS doesn’t raise tax deductible LTCI limits for 2022
For the first time the Internal Revenue Service has not raised tax-deductible limits for long-term care insurance according to the American Association for Long-Term Care Insurance.
LTCI Awareness Month 2021: Study shows increasing need for care, reliance on family
Genworth study finds the COVID-19 pandemic increased demand for and complexity of long term care, accelerating existing trends toward longer duration and more acute care.
Life combo product sales plummeted during 2020 pandemic
Total new premium for individual life combination products decreased 23% to $3.7 billion in 2020, according to LIMRA’s 2020 U.S. Individual Life Combination Products Annual Review.
LTCI rates remain largely stable in past 5 years, AALTCI finds
Association’s latest long term care insurance price index data shows men’s rates fairly stable (or have even dropped) since 2016, but women’s rates jump in prolonged low interest rate environment.