Faced with a premium increase, LTCI policyholders choose to pay
The overwhelming majority of consumers experiencing a premium increase on their long-term care insurance chose to pay the higher premium, according to the findings of a new analysis released this week by the American Association for Long-Term Care Insurance.
Recent Long-term Care Insurance News
2022 Linked-Benefit LTCI Price Index released by AALTCI
The first price index comparing leading linked-benefit long-term care insurance costs and benefits was released this week by the American Association for Long-Term Care Insurance.
Claims paid by long-term care insurers grew by $700 million in 2021
The nation’s long-term care insurers paid out $12.3 billion in claims during 2021, representing a significant increase over prior years according to new data from AALTCI.
IRS doesn’t raise tax deductible LTCI limits for 2022
For the first time the Internal Revenue Service has not raised tax-deductible limits for long-term care insurance according to the American Association for Long-Term Care Insurance.
LTCI Awareness Month 2021: Study shows increasing need for care, reliance on family
Genworth study finds the COVID-19 pandemic increased demand for and complexity of long term care, accelerating existing trends toward longer duration and more acute care.
Life combo product sales plummeted during 2020 pandemic
Total new premium for individual life combination products decreased 23% to $3.7 billion in 2020, according to LIMRA’s 2020 U.S. Individual Life Combination Products Annual Review.
LTCI rates remain largely stable in past 5 years, AALTCI finds
Association’s latest long term care insurance price index data shows men’s rates fairly stable (or have even dropped) since 2016, but women’s rates jump in prolonged low interest rate environment.
Study reveals how pandemic impacted long-term care costs
LTCG’s Annual Cost of Care Report benchmarks the prices of senior care, ranks most and least expensive states for home health aides and nursing homes.
Interest in life combo products spikes
LIMRA survey finds pandemic has shifted perceptions about long-term care and life insurance.
Genworth terminates merger agreement with Oceanwide
After 4 years and 17 different delays, Genworth pulls plug on $2.7 billion deal to focus on revised strategic plan.
NAIC Reveals 5 Regulatory Priorities for 2021
LTCI regulation and consumer data privacy among a handful of topics on the radar of state regulators.