Low interest rates and actuarial worries may be scaring some insurers away from private long-term care insurance (LTCI), but, on the bright side: Sales seem to be holding up.
Jesse Slome, executive director of the American Association for Long-Term Care Insurance, has shared that observation in an early glimpse of AALTCI LTCI market survey data.
The insurers participating in the survey have told AALTCI they have been seeing “significant increases in submitted applications” so far this year.
Some insurers have reported seeing 30 percent to 55 percent increases in application volume, Slome said.
Even at insurers not reporting year-over-year increases, application volume has been healthy by long-term historical standards, Slome said.