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LIMRA: Premiums, Lives Increase At Group LTC Plans

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New annualized premiums increased 16% for U.S. employer-sponsored group long term care insurance plans in 2007, and the number of employees participating in the plans increased 20%.

Between 1997 and 2007, the compound annual growth rate of group LTC sales was 12%, according to researchers at LIMRA International, Windsor, Conn.

In 2007, 5 out of 12 insurers participating in the LIMRA group LTC survey reported growth in employer-sponsored sales.

Participants’ experience ranged from a decline of 99% for one carrier to growth of more than 800% for another.

The number of new plan participants in existing groups increased 3%.


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