Interesting LTCi Article...

[2insureyou]

LTCI in the Doghouse | LifeHealthPro

These articles always make things out to be worse than they are. I would agree that there need to be changes amongst many carriers, but there are at least 5-6 committed carriers to the market who have the financial strength to remain viable.

 

[Mr_Ed]

...but there are at least 5-6 committed carriers to the market who have the financial strength to remain viable.

You're kidding, right?

 

[2insureyou]

You're kidding, right?

Not kidding at all... Three that are committed and have the financial strength are NML, NYL and MassMutual.

I'd say Genworth is committed, and so is Hancock, and probably Pru... They'll all likely see more rate increases, and they have been changing their benefits on newer policies, but they are trying to find ways to stay in the market.

Let's not forget Mutual of Omaha as well. I think they'll stay in.

Several strong combo products from other companies also... Rarely do I find those to be the best option, but at least they are available.

 

[Mr_Ed]

Not kidding at all... Three that are committed and have the financial strength are NML, NYL and MassMutual.

I'd say Genworth is committed, and so is Hancock, and probably Pru... They'll all likely see more rate increases, and they have been changing their benefits on newer policies, but they are trying to find ways to stay in the market.

Let's not forget Mutual of Omaha as well. I think they'll stay in.

Several strong combo products from other companies also... Rarely do I find those to be the best option, but at least they are available.

Do you really believe that every LTC insurer will go bankrupt except for NML, NYL, and MM?

You've got to be kidding? Please tell me you're kidding.

 

[Arthur Rudnick]

Do you really believe that every LTC insurer will go bankrupt except for NML, NYL, and MM?

I'm not sure where that came from.....
The article didn't say that and neither did 2insureyou.

Nothing said in the article that hasn't been said before.

The good thing is that outside of our industry, no one ever heard of, or reads Life Health Pro.

 

[2insureyou]

Do you really believe that every LTC insurer will go bankrupt except for NML, NYL, and MM?

You've got to be kidding? Please tell me you're kidding.

Did you not read the whole post? There are only, truly, 8 major players in the market anymore. Out of those companies, I would say 5-6 are committed and capable of hanging long-term... At my last check, 5-6 is more than just NML, NYL and MM (three)

Nobody's going bankrupt, but companies are dropping out left and right. Can anyone say Met Life?

I just picked those three, because they are the only three major player that haven't had in-force rate increases who are still actively selling the product. I think that carriers like Pru, Gen, Hancock and MoO will be fine long-term, but they have made significant changes.

And, my math was bad on one count. I've mentioned 7 players counting MoO... Bankers is one of the top 8 sellers of LTCi, but their financial strength is in the crapper, and I would expect an exit from the market for them at some point in the near future. It's just a matter of time.

 

[CALTCAgent]

Did you not read the whole post? There are only, truly, 8 major players in the market anymore. Out of those companies, I would say 5-6 are committed and capable of hanging long-term... At my last check, 5-6 is more than just NML, NYL and MM (three)

I just picked those three, because they are the only three major player that haven't had in-force rate increases who are still actively selling the product. I think that carriers like Pru, Gen, Hancock and MoO will be fine long-term, but they have made significant changes.

And, my math was bad on one count. I've mentioned 7 players counting MoO... Bankers is one of the top 8 sellers of LTCi, but their financial strength is in the crapper, and I would expect an exit from the market for them at some point in the near future. It's just a matter of time.

How much LTC business does NML do?

I never run into them and do not consider them a "major player". I could be wrong though. I also don't think MM is a "major player".

 

[Arthur Rudnick]

How much LTC business does NML do?
I never run into them and do not consider them a "major player". I could be wrong though. I also don't think MM is a "major player".

For 2011, both MM & NWM should end up being in the top 10 for premium submitted.

 

[CALTCAgent]

For 2011, both MM & NWM should end up being in the top 10 for premium submitted.

I'd look at total premium submitted. I don't have the numbers though.

As of lately, maybe they are higher?

 

[VolAgent]

For 2011, both MM & NWM should end up being in the top 10 for premium submitted.

At the risk of being a smart ass, are there 10 carriers even writing LTCi at this point?