Sales of asset-based long-term care insurance increased by nearly 20% and the number of covered lives increased 13.5%, according to an annual study of new policy sales.
The American Association for Long-Term Care Insurance, Los Angeles, published this finding in a study based on data gathered from leading LTC providers. The complete findings will be published in the Association’s 2012 Long-Term Care Insurance Sourcebook.
“We expect the sale of asset-based or linked LTC products will continue to grow as they offer some highly attractive benefits to a category of buyers looking to protect their retirement savings,” says AALTCI Director Jesse Slome in a prepared statement. “The growth of sales will only continue as more large players enter the marketplace.”