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HIAA: 1999 LTC Policy Sales Up 40%

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NU Online News Service, Feb. 22, 2:05 p.m. – The Health Insurance Association of America, Washington, says insurers sold 750,000 long-term care insurance policies through the U.S. individual and group association markets in 1999, 40% more than they sold in 1998.

The 124 companies that participated in the market collected $789 million in premiums, HIAA says.

Annual premiums for basic LTC insurance policies sold in 1999 averaged $300 for a 40-year-old, $409 for a 50-year-old, and $1,002 for a 65-year-old.

The average age of purchasers was 65 in the individual market and 43 for members of employer-sponsored programs.