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LIMRA Finds Mixed Signals In Individual LTC Market

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The number of Americans buying new individual long term care insurance policies fell 1% in 2007, to 290,000, but premium revenue from those sales increased 3%, according to LIMRA International.

Researchers at LIMRA, Windsor, Conn., estimate that the total number of LTC insurance policies in force increased about 2%, to 4.6 million.

The researchers have based the results on a survey of 29 carriers, with 15 of the carriers reporting higher sales and 14 reporting lower sales.

At the 5 carriers that accounted for 70% of new LTC insurance buyers, 3 carriers reported higher sales and 2 reported lower sales.