Agents expect to sell more LTCI policies this year than last

[Insurance Forums Staff]

Insurance Forums Staff submitted a new article

Agents expect to sell more LTCI policies this year than last

Nearly 8 in 10 in a new AALTCI survey optimistic their new policy sales will equal or surpass last year.

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[Arthur Rudnick]

350,000 Americans did not buy Long Term Care Insurance policies in 2018……………….

16% of that figure purchased Stand-alone traditional LTC policies.
Therefore, only 56,000 people bought LTCi policies and 294,000 bought hybrid life insurance policies, which had a LTC rider.

In 2017 there were 70,000 stand-alone LTCi policies sold. In 2018 there were 56,000.
Let’s not allow numbers to confuse everyone.

 

[rousemark]

350,000 Americans did not buy Long Term Care Insurance policies in 2018……………….

16% of that figure purchased Stand-alone traditional LTC policies.
Therefore, only 56,000 people bought LTCi policies and 294,000 bought hybrid life insurance policies, which had a LTC rider.

In 2017 there were 70,000 stand-alone LTCi policies sold. In 2018 there were 56,000.
Let’s not allow numbers to confuse everyone.

Arthur, I would say the number that DID NOT buy is far higher than that...

 

[Arthur Rudnick]

350,000 Americans did not buy Long Term Care Insurance policies in 2018...................
16% of that figure purchased Stand-alone traditional LTC policies.
Therefore, only 56,000 people bought LTCi policies and 294,000 bought hybrid life insurance policies, which had a LTC rider.
In 2017 there were 70,000 stand-alone LTCi policies sold. In 2018 there were 56,000.
Let's not allow numbers to confuse everyone.

 

[Mr_Ed]

350,000 Americans did not buy Long Term Care Insurance policies in 2018...................
16% of that figure purchased Stand-alone traditional LTC policies.
Therefore, only 56,000 people bought LTCi policies and 294,000 bought hybrid life insurance policies, which had a LTC rider.
In 2017 there were 70,000 stand-alone LTCi policies sold. In 2018 there were 56,000.
Let's not allow numbers to confuse everyone.

Only 14% of hybrids have an LTC rider.
47% have a chronic illness rider.
39% an accelerated death benefit.
That means that only 41,160 hybrids had real long-term care coverage.
Traditional LTCi sales still outnumber Hybrid/LTC sales.