Description: Tidbits relate to contingent deferred annuities, wellness benefits in qualified long-term care contracts, and reactivating the active financing exception for insurance companies.

Description: Long-term-care LTC insurance presents a huge opportunity for insurers. If fully exploited, the field lends itself to policies with relatively large premiums that need to be accumulated over a lifetime in statutory reserves, requiring fiduciary investment management as well as insurance services. The need to accumulate large reserves to prefund a risk largely concentrated at the end of the life span gives this product most of the desirable characteristics of the level premium life insurance policies that were the staple of the insurance business for many decades.

Description: Reflections from the past year as chair of the LTC Section Council.