Tag: long term care insurance policies

Younger Americans are seeking long term care insurance policies

Nordstrom
Long Term Care Insurance Policies - Hospital room

vA MassMutual survey showed that the demand continues to remain solid among consumers. Long term care insurance policies continue to hold their appeal among younger Americans, according to the results of a recent MassMutual survey. Insurers have been withdrawing from this market which comes with expensive chronic care benefits. Despite the concerns among insurers, many consumers are still very interested in investing in long term care insurance policies. The research showed that consumers also like the idea of being able to purchase this coverage as a part of a package…

Read More

Fitch labels General Electric insurance “risky”, sending share prices tumbling

G. Turner
General Electric Insurance - long term care

A new report called the long term care insurance backer the riskiest one in that sector. A new Fitch Rating report referred to General Electric insurance as one of the riskiest backers of long term care coverage. It pointed to the company’s substantial claims exposure and comparatively small cash reserves for paying those claims. As a result of the new designation, G.E. saw its shares take a nose dive at the start of the week. The Fitch Ratings report is issued annually. The credit ratings agency underscored concerns outlined by…

Read More

Traditional long term care insurance policy sales maintain downward slope

Logan B.
Traditional long term care insurance - Hand over senior citizens

Data shows that Americans are buying fewer LTC policies year over year. Americans are no longer purchasing traditional long term care insurance at the same rate they used to. In 2018, they bought only about 60,000 stand-alone policies in that category. That represents a drop of 13 percent year over year. Falling sales mean fewer insurance companies are participating in this coverage sector. Only about 15 carriers actively sold traditional long term care insurance policies last year. Moreover, among them, five took in over three quarters of the entire market,…

Read More

Long term care insurance premiums vary broadly, but are higher overall

H. Cutner
Long Term Care Insurance Premiums on the Rise

The rates that are being paid for this coverage are dependent on a very large number of factors. A recently released industry report has shown that while the rates for long term care insurance have been rapidly on the rise, the premiums themselves vary broadly depending on a number of different factors that go into the calculations. The report showed that this year, the average rise for LTC insurance premiums was close to 9 percent. At the same time, even though the rates for long term care insurance have been…

Read More

Long term care insurance policies are evolving for greater choice

Long Term Care Insurance

The most recent offerings in this sector are including a larger number of options for consumers. Long term care insurance companies have been observing an increasing trend of skyrocketing costs as their policyholders are living longer and are using more services such as assisted living facilities and nursing homes. The value in this type of policy is in the fact that it covers these extremely expensive services. However, because policyholders are generating far greater expenses than had been predicted, the long term care insurance industry is being faced with massive…

Read More

Long term care insurance is struggling due to many factors

Long Term Care Insurance Industry

There are many causes of the challenges faced by this sector of the industry. The long term care insurance sector of the industry has been facing a lot of difficulties over the last few years due to a lack of new customers and increased use by older policyholders. Carriers have been giving up on the sector altogether and have been dropping out of it. The long term care insurance companies that have decided to hold their ground within the sector are resorting to efforts that are less favorable to the…

Read More

The price of long-term care insurance coverage is on the rise

H. Cutner

As the Baby Boomer generation comes to the cusp of the discovery that long-term care insurance may be a wise step to cover potential upcoming needs, the insurance industry has found that this sector of its marketplace is withering, the price of its policies is skyrocketing, and the available coverage is being changed by the insurers. Long-term care insurance is the coverage that has been designed to provide payments for the medical services that are not usually covered by standard health insurance, for example: in-home care, nursing homes, and assisted…

Read More