“Life-LTC Combo Product Sales Fell in 2020: LIMRA”

“Life-LTC Combo Product Sales Fell in 2020: LIMRA,” by Allison Bell, ThinkAdvisor

Quote:

“Consumers bought only 421,000 individual life insurance policies that can provide LTC benefits, or similar types of benefits, in 2020, according to new LIMRA issuer survey data. The number of life-LTC combination products sold was down 7% from the 2019 total. Total combo product sales premium volume fell 23%, to $3.7 billion, and the average amount of premium revenue per new combo product sold fell 17%, to about $8,800 per policy.”

 

 

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

The media hype about WA Cares Fund, the WISH Act, and expanding Medicare leads people to believe falsely that government will take care of long-term care. How? Somehow. When? Some day. This evasion of economic reality does not help LTCI sales.