Description: Long-Term Care Insurance: Suggestions to focus on various products for different market segments to address all the challenges in the current one product system. From Long-Term Care Newsletter, August 2002, Issue No. 6.

Description: We see a problem in the long-term care insurance industry because we don’t have a standard process. The majority of agents and advisors, who sell a variety of products, are often at a loss for what to do with LTCI.

Description: The likelihood that an executive will require some type of extended custodial or medical support—and the cost of that care—keep rising. In fact, the odds of an individual experiencing the need for a LTC claim are 120 times greater than losing his or her house because of a fire or other catastrophic loss, according to the American Healthcare Association.

Description: In spite of the growing need for long-term care financing, recent sales are stagnant and the number of insurance companies offering long-term care insurance is dwindling. This article examines some of the shortcomings of today’s product and suggests a different approach.

Description: The article provides an overview of the federal tax treatment of long-term care insurance contracts, including a brief history of the tax treatment of long-term care insurance, the requirements that must be satisfied in order to be treated as qualified long-term care insurance under the Internal Revenue Code, and a brief discussion of qualified long-term care combination products and chronic and terminal illness accelerated death benefits offered under life insurance contracts.

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: This article is aimed at developing young actuaries and how the current LTCI market offers much opportunity.

Description: This article provides insight on how the worksite LTC market has evolved, and how new concepts like "Financial Wellness" are serving as a catalyst to engage employees in LTC Planning during their working years.

Description: New for 2017, we are introducing a series of articles by experienced industry professionals who are relatively new to long-term care (LTC).

Description: Update on LTC Section activities and other issues from the perspective of a Society of Actuaries' staff actuary.