Description: 1992 Valuation Actuary Symposium. This session on Long Term Care Insurance provided an update on the Society's Task Force on Valuation Methods for Long-Term Care Insurance, methods and assumptions that are being used for policies, premiums, and reserves on long-term care policies, and the regulatory environment.

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: Presented at October 1985 Annual Meeting. This session discussion is about elements of long-term care - provider, patients, financing - problems that must be overcome to insure long-term care, managed care solution, practical considerations in offering long-term care policy.