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Preliminary U.S. individual long-term care insurance (LTCI) new business numbers show that the LTCI market firmed up a bit in 2018, according to a document that appears to be from LIMRA.
LIMRA has not yet released its 2018 LTCI new business survey results. A document that appears to be an advance version of the survey results, obtained by ThinkAdvisor, shows that, at the participating carriers, the number of new lives covered dropped about 14%, to about 59,000.
The rate of decline narrowed from 24% in 2017, according to a comparison of the new, unofficial numbers with 2017 numbers in the new document, and with official 2016 numbers that James Kerley, a LIMRA staffer, presented in 2017, at the Intercompany Long-Term Care Insurance Conference.
The 2018 survey participants' total annualized new premiums fell 4% between 2017 and 2018, according to the new document.
