Agents expect to sell more LTCI policies this year than last

May 7, 2019

  1. Insurance Forums Staff
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    Insurance Forums Staff Super Genius

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  2. Arthur Rudnick
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    Arthur Rudnick Moderator Moderator

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    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.
     
  3. rousemark
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    rousemark Still Here!

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

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    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.
     
  5. Mr_Ed
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    Mr_Ed Guru

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    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.
     
    Mr_Ed, Jul 15, 2019
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