“COVID-19 Increased LTCI Claimant Mortality 30%: Unum,” by Allison Bell, ThinkAdvisor

 

Quote:

“Unum Group says the COVID-19 pandemic increased the death rate for people collecting Unum long-term care insurance (LTCI) benefits by about 30% in the second quarter. The increase in the number of LTCI insureds who died during the quarter was enough to cut the interest-adjusted loss ratio for the LTCI business to 67%, from a target range of about 85% to 90%, company executives said today during a conference call.”

 

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

Will commensurate premium reductions be coming?