Research
Experience Studies in Health
Long–Term Care Insurance Persistency Experience
A Joint Study Sponsored by LIMRA International and the Society of Actuaries LTC Experience Study Committee
Jointly sponsored by LIMRA International and the Society of Actuaries, the long–term care insurance (LTCI) persistency study examines voluntary lapse and total termination activity for calendar years 2000 and 2001. Overall, the results indicate that LTCI persistency continues to improve; however, the current improvement has come from the individual lines of business rather than the group lines. For all policy years combined, the overall lapse rate was 4.2 percent for individual plans and 8.9 percent for group plans.