Description: The basics and importance of the utilization assumption for long-term care insurance.

Description: This article will highlight new model visualization approaches we use to shed light on the “black-box” nature of advanced modeling techniques. These visualizations help us better highlight and understand the key drivers of predictions so that they can be understood and validated by all stakeholders

Description: Discussion of landing spots and alternative options available to insureds at the time of an LTC rate increase.

Description: Long-term care policy buyouts have been discussed within the industry lately as an additional policyholder option alongside a premium rate increase. This article discusses potential advantages and disadvantages of long-term care policy buyouts from the perspective of insurance carriers, regulators, and policyholders. It also explores certain key actuarial considerations relating to long-term care policy buyouts including potential approaches to valuing a buyout, adverse selection, and reinsurance.

Description: The Society of Actuaries (SOA) retained Milliman, Inc. (Milliman) to conduct a survey on the impact of COVID-19 on Long-Term Care (LTC) insurance mortality, voluntary lapse, and morbidity experience. The results of this survey, which was conducted from November 2020 through January 2021, are presented in this report.

Description: Pitfalls with long-term care experience studies and tips for dealing with them.

Description: Actuarial equivalence in long term care rate increases may be unattainable in a system that has so many limitations.

Description: Stories about the good that LTC policies do for some insured.

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