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 August 2021 through September 2021, are presented in this report.

Description: The Society of Actuaries (SOA) retained Milliman, Inc. (Milliman) to conduct a research project related to product innovation. This report explores key risks and considerations for product innovation using the long-term care insurance (LTC, LTCI) industry as a case study. We identify how actuaries of all backgrounds can apply the lessons learned, and challenges overcome, by the LTCI industry to improve future innovation, product development and risk management.