Retirement plan assets could fuel long term care insurance industry growth over the next decade, according to some Society of Actuaries meeting attendees.
The attendees participated in flash polls conducted here at a session of the SOA’s Intercompany Long Term Care Insurance Conference.
Session speakers asked audience members to give their views through an electronic polling system.
About 32% of the survey participants said they believe 401(k) plan assets and individual retirement account assets may be a major factor in LTC insurance industry growth over the next 5 to 10 years.
Another 28% of the participants predicted that combination products, such as those blending annuities and LTC insurance, could be a major factor.
About 25% of the participated cited LTC Partnership policies; 15%, basic government-funded coverage; and 3%, public coverage supplemented by private coverage.