Steve Schoonveld, a veteran long-term care insurance (LTCI) actuary, has come up with 7 ideas for making the product easier to sell and easier to buy.
Schoonveld shared the ideas recently during a presentation in Burlington, Vt., at the summer meeting of the National Conference of Insurance Legislators (NCOIL), Troy, N.Y.
Schoonveld is a member of the Federal Long-Term Care Task Force at the American Academy of Actuaries (AAA), Washington. He was the co-chairperson of the Joint American Academy of Actuaries and Society of Actuaries CLASS Act Task Force — a body that kept track of the ill-fated voluntary LTC benefits program that was supposed to be created by the Patient Protection and Affordable Care Act of 2010 (PPACA).
The AAA has posted a copy of a written version of Schoonveld’s NCOIL LTCI presentation on its website.