Long Term Care Insurance Claims reach $10.3 Billion in 2018

The long term care insurance industry paid a total of $10.3 billion in claims for 2018 according to AALTCI (American Association for Long Term Care Planning). By far, this is the largest amount of claims paid by long term care insurance companies. From 9.2 billion of claims paid to 295,000 policyholders it rose by 2.7 … Read more

Long Term Care Insurance Tax Deductibility for 2019

The IRS recently issued new limits for the tax deductibility of ’tax qualified’ long-term care insurance premiums for 2019 (below).  Only traditional LTCi policies have this benefit while hybrid, combination and linked benefit policies with LTC components do not. Here are the new (2019) limits for traditional long-term care insurance premiums (that can be included … Read more

Checking in with Genworth and the Long Term Care Insurance Industry:

Checking in with Genworth and the LTC Industry: The sale of Genworth to China Oceanwide Holdings Group Co. Ltd seems to be back on track and may be completed, by the end of this year.  China Oceanwide announced their plan to acquire Genworth about two years ago.   Tom McInerney, Genworth’s president, told securities analysts … Read more

Long Term Care Insurance Is Still a Thing:

Long Term Care Insurance premiums continue to trend up slightly in the 2018 National Long-Term Care Insurance Price Index from the American Association for Long-Term Care Insurance. This is mixed news as it reinforces that insurance companies are seeking stability in their pricing and that these increases may also help to minimize future premium increases … Read more

9 Insurance Questions for 2018

Change is coming slowly to the insurance industry and while 2017 showed much movement, 2018 will be the year that brings the next step in evolution for the insurance industry. In this post, I pose some of the questions and possible answers for the insurance industry this year. 1) Will this be the year that … Read more

Genworth Sale Update:

Genworth has the most individual long term care insurance policies in the U.S. As noted, Genworth along with every other U.S. insurance company with LTC policies has had issues due to initial under-pricing of policies, the prolonged low-interest rate environment, offering of lifetime benefit periods with minimal actuarial experience and lower than expected lapse ratios … Read more

Everything You Need To Know About Paramed Insurance Exams

Life Insurance premiums are based on many components and the premium you end up paying can vary significantly in your approach to reviewing your life insurance needs.  It’s always good to review your health history with multiple insurance companies as each company has it’s own underwriting criteria. It’s alway important to review your options and … Read more

Should I consider Hybrid/Combination Long Term Care Insurance Policies?

The need for long term care insurance is not going away. It is estimated that more than half of today’s 65 year olds will require long-term care at some point, at an average annual cost of $183,000. Most people will only need care for less than two years, however one in seven will face more … Read more