Decline rates rising for LTCI applicants under 70; stable (but high) for those over 70

May 14, 2018

  1. Insurance Forums Staff
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  2. Mr_Ed
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    It's not harder to health-qualify for long-term care insurance. Insurance companies have relaxed underwriting requirements over the past 5 years. The problem is that many people are delaying looking into long-term care insurance until they have a health problem.
     
    Mr_Ed, May 15, 2018
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  3. ltcadviser
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    I definitely think its harder today, simply because streamlined underwriting for applicants under 60 is no longer the norm.
     
  4. Mr_Ed
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    have you looked at the Mutual of Omaha or Genworth underwriting guidelines lately?
     
    Mr_Ed, May 15, 2018
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  5. Life Hawk
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    Only wrote a few applications in this field, but quickly realized it wasn't for me.

    The hand writing is on the wall... I think this sort of insurance has a declining client base, a more medically challenged potential new client base, in a business area that has seen cost sore.

    Miscalculations have cost companies too much and now they are responding to market shifts. Not to mention new medical screening technology that detects future health risks which only add to new client declines. I will also add the clients positioned for this coverage are either taking care of ailing parents, helping children financially or both... none of this is an industry plus.
     
  6. scagnt83
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    Traditional LTCI is next to dead. Traditional Hybrid Policies have terrible ROIs.

    Life with a LTC Rider is the future of LTCI.
     
    scagnt83, May 16, 2018
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  7. Mr_Ed
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    That's the dumbest thing you've ever posted on this forum.
     
    Mr_Ed, May 16, 2018
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  8. Mr_Ed
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    It's obvious you've done very little traditional LTCi.
     
    Mr_Ed, May 16, 2018
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  9. Life Hawk
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  10. scagnt83
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    You sound like health insurance agents did before Obamacare killed the individual health market.

    You also sound the same way you did years ago when you said that rate increases were "under control" and would not be as bad in the future.

    The writing is on the wall. Plenty of traditional policies are still being sold and I doubt it will go away entirely anytime in the next decade. But over the next decade, you will see the market get taken over by life insurance with long-term care Riders. The market is also moving towards insuring people at a younger age because of this. It allows people to effectively plan for long-term care in their 40s instead of in their 50s/60s. And people in their 40s love life insurance with long-term care Riders.
     
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