Description: For a long time the primary focus of private LTC insurance companies has been to educate the public about the need for private LTC insurance and to make the product more acceptable to a wider population. To this end there have been numerous changes to the product design to make this product more acceptable to general population. However, one of the things that may have been overlooked in those product design changes is the need for alignment of policyholder and insurance company’s interests, which is to make coverage more affordable and to reduce adverse selection. Incentivizing good behavior from policyholders can not only make LTC insurance policies less expensive but also help policyholders make better health choices, which can help them stay healthy for a longer time. These incentives may also reduce some of the inherent risks in a long term care policy and may help in increasing the sales of private LTC insurance.

Description: I recommend a Social Security deferral product, and two annuity enhancements. I then discuss the challenges faced in getting such products distributed.

Description: I propose a Social Security deferral product and two annuity enhancements. Then I address the challenges in getting such products distributed.

Description: Approaches to filing, approving and implementing LTC rate increases impact policyholder behavior regarding retaining/modifying their coverage.