ACLI: No Use Complaining
About Times LTC Story
To The Editor:
Regarding “Bad News” [The Editor's Edge, April 2], it does us little good to complain about not getting a fair shake from The New York Times in its recent story on long term care insurance. Our job now–the job of all involved in long term care insurance–is to demonstrate the industry’s commitment to its policyholders and to their financial well-being.
Statistics support this story: As an industry, we’re paying out billions annually in claims. Even the chart accompanying the New York Times article clearly demonstrates that claims-paying problems are not the industry norm, in many ways undermining the article’s validity. In fact, an updated study to be released soon by LifePlans Inc., sponsored by the Department of Health and Human Services and the Robert Wood Johnson Foundation, on policyholder attitudes is expected to show overwhelming satisfaction with their policies and insurance companies.
However, charts and statistics need to be buttressed by industry action to persuade lawmakers and regulators of our commitment. That’s why ACLI continues to actively support enactment of National Association of Insurance Commissioners’ model laws and regulations designed to ensure long term care insurance consumers are treated fairly.
These are the facts that the industry will work to bring to light in order to shift the focus to the vital role long term care insurance plays in American life today.
President and CEO
American Council of Life Insurers
NAIFA: Bobo Off The Mark
To The Editor:
I am writing in response to Jack Bobo’s March 12 column criticizing the National Association of Insurance and Financial Advisors’ strategic plan, and what he calls its “overemphasis” on advocacy. While I greatly admire and respect Jack for his leadership and dedication to NALU and NAIFA, his assessment is off the mark.