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.
Recent Long-term Care Insurance News
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.
Home care dominates majority of long-term care insurance claims
New study from AALTCI finds 70% of LTCI claims begin at home; most also end there.
Supplemental Health, DI and LTC Conference Goes Virtual
2020 event set for Aug. 5-6 in an exclusively virtual format due to the ongoing COVID-19 pandemic.
Agents expect to sell more LTCI policies this year than last
Nearly 8 in 10 in a new AALTCI survey optimistic their new policy sales will equal or surpass last year.
Simplified underwriting gaining momentum among consumers
Almost half of Americans say they are more likely to buy life insurance using simplified underwriting, drawn to the speed and ease that it offers.
350,000 Americans bought LTCI policies in 2018
Combo products account for lion’s share of new policies sold according to new data from the American Association for Long-Term Care Insurance.