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: This is a research report that highlights the characteristics of combination plans that serve to reduce the risks to insurers issuing life or annuity products linked to long-term care insurance. Observations are provided to assist in the understanding of the factors that explain the profit change sensitivity results and the natural hedging against major risks that inherently is present within the linked products.

Description: This paper examines the risk associated with long-term care, as well as a variety of insurance-based vehicles that can assist consumers in protecting them from this risk.

Description: Disability insurers are showing an increasing interest in benefits that tie closely to long-term care. Several insurers have developed disability products that offer additional disability benefits based on the loss of activities of daily living, while others offer options to convert disability policies into long-term care policies. From Record of Society of Actuaries, Vol. 30, No. 1.

Description: At this presentation from Session 7PD of the SOA 1996 Colorado Springs Meeting, the panelists comment on the value they place on ensuring proper management of risk, contract preparation, underwriting and claim handling for long-term care policies. From the Record of the Society of Actuaries, Vol. 22, No. 2.

Description: This panel at the SOA 1998 New York Annual Meeting discusses current developments in the market for long-term-care insurance including underwriting, regulatory activity, pricing and plan design.

Description: Many insurers have one or more existing blocks of LTC insurance coverage. As products are revised, older policies are affected greatly. This session discusses possible strategies for dealing with older policies. From the Record of the Society of Actuaries, Volume 29, No. 2, Session 119.

Description: This presentation is an open forum from the 1991 Meeting of the Society of Actuaries, held June 3-5 in Colorado Springs. The panelists discuss long-term care insurance from various viewpoints, including the consumer’s desires, needs, knowledge, and interests, intermediaries' role in defining benefits, cost of benefits such as inflation protection and nonforfeiture, financial ability to purchase, buying attitudes of the public for coverage, and trade-offs between price and features. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 3B.

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

Description: In this video Dale Hall, Managing Director of Research at the Society of Actuaries Research Institutue, presents finding from a report on state-based catastrophic insurance coverage for long-term care in cases of conditions like dementia, ALS, and multiple sclerosis. Focusing on Minnesota as a representative state, the research explores stakeholder opinions on two program options: a comprehensive approach and a condition-specific model. While stakeholders favored a comprehensive structure, they highlighted operational challenges, the necessity of mandatory participation, and the importance of education and marketing efforts. The major takeaway is broad support for the concept, though overcoming operational hurdles and determining cost parameters are crucial for future program development. Contributors: Dale Hall FSA, MAAA, CFA, CERA , Rose Northon, STeven Siegel ASA MAAA, Jon Forster ASA MAAA