LTC Industry Statistics

[Arthur Rudnick]

previously posted by ltcadviser

Originally Posted by HealthGuy

nobody cares about tradtional LTC policies time to take a nap

That is definitely not true. Why do you feel that way?

Let me guess...............
Because he doesn't sell them?

 

[Mr_Ed]

previously posted by Mr_Ed





This not about you or your clients. It's about the state of the industry.

* 2013 Industry sales were down 26.5 percent from 2012 in terms of premium and 22.9 percent in terms of the number of lives insured with individual policies."

my team and I are up 35% over last year.

 

[CALTCAgent]

· 2013 Industry sales were down 26.5 percent from 2012 in terms of premium and 22.9 percent in terms of the number of lives insured with individual policies."

This is probably obvious, but these numbers are significant. For an industry to drop like that in 1 year is huge, IMO.

 

[ltcadviser]

This is probably obvious, but these numbers are significant. For an industry to drop like that in 1 year is huge, IMO.

Well, July 2012 saw Genworth put up some huge numbers right before it changed products and went to full underwriting; and then in 2013 Genworth pulled its lead marketer. And many group plans were terminated. Really do not think there is anything more to these numbers than that. Economy is good; people are buying LTC; and hybrids are becoming more popular. Like Scott says, business is good. Just less channels of distribution, I believe.

 

[CALTCAgent]

Well, July 2012 saw Genworth put up some huge numbers right before it changed products and went to full underwriting; and then in 2013 Genworth pulled its lead marketer. And many group plans were terminated.

Well maybe that is why. I would think the slack would have been picked up elsewhere though. Maybe not.