Universal life insurance policies with long-term care riders may have accounted for 24% of premiums from new U.S. UL sales in 2016, according to analysts at Milliman
The percentage of UL sales premiums going to policies that offer long-term care benefits increased from 22.3% in 2015, and from 16.4% in 2013.
In the market for UL policies with secondary guarantees, the share of premiums going to policies with long-term care riders increased to 33.5% in 2016. That’s up from 31.9% in 2015, and up from 24% in 2013.
(Related: Individual Life Sales Revenue Rises: LIMRA)
Carl Friedrich and Susan Saip have published those figures in Milliman’s latest UL market survey report.
Milliman began the survey in October 2016 and received 32 responses.
The figures for 2016 were for the first three quarters of 2016.