Description: Review of LTC Industry.

Description: Chairperson's update on the Long-Term Care Insurance Section with a focus on the progress made since the Think Tank meeting held in October and the addition of Rhonda Ahrens to coordinate outreach to regulatory members.

Description: Chairperson's update on the Long-Term Care Insurance Section .

Description: Recaps the highlights of last 12 months of activity and accomplishments by the LTC Section Council.

Description: Review of LTC Industry.

Description: Review of LTC Industry

Description: The objectives of this paper include an assessment of the basis of volatility of experience and financial results, considering the risks and uncertainties associated with long-term policies, especially LTCi. In so doing, it is observed that a properly determined provision for risk and uncertainty is needed in premiums and reserves. It then describes the approaches that can be taken to quantify such a provision in new and re-rated LTCi. The paper discusses possible mitigation approaches that have and should be taken, especially but not limited to the use of policy design features to enhance the alignment of interests of the LTC insurer and its policyholders. It also explores the relationship between historical and expected future risks and uncertainties specific to LTCi. It concludes by pointing out the pervasiveness of the uncertainties involved, the earlier underestimation of the uncertainties involved, although the actual degree of uncertainty may have decreased over time as relevant experience has been obtained. Effective management of LTCi demands incorporation of mitigation approaches in its product design and continuous monitoring of relevant experience.

Description: Today, a plethora of tools and approaches exist to develop lifetime projections of long-term care (LTC) business. Within these tools lie two distinct approaches to project mortality; namely, by using assumptions that are applied: (1) to an all-lives exposure base, or (2) separately for disabled- versus active-lives exposure bases. Using disabled versus active mortality allows for more granular modeling of the two different cohorts that exhibit dramatically different mortality. And so, when using an all-lives mortality assumption, is the projection missing important details about the appropriate mortality level? This article seeks to not only answer this question, but also answer how a “traditional” all-lives mortality assumption can be impacted when you introduce a combination of the two modeling techniques into the development of a mortality assumption. To answer these questions, we examined the experience and results developed from one c ompany as an illustrative case study.

Description: The LTC Section chairperson announces the new council roster, and discusses the goals of branding the profession, building community, supporting education needs, and commitment to reserach projects.

Description: Panelists at this session of the SOA 1995 Vancouver Spring Meeting present key findings of a recently released inter-company study of long term care experience.