For the agents sticking to the task of trying to protect people against long-term care (LTC) risk, the market outlook looks pretty good, according to the American Association for Long-Term Care Insurance (AALTCI).
The news may be full of gloomy headlines about long-term care insurance (LTCI) issuers’ efforts to get approvals for rate increases for holders of in-force LTCI policies.
But 48% of agents who participated in an AALTCI survey said they expect their own sales of new, traditional LTCI policies to increase this year, and only 21% predicted their sales of traditional LTCI policies would decrease.
The participating agents expressed even more optimism about sales of products that combine LTC benefits with life insurance policies or annuities.
About 66% of the agents said they expect their sales of LTC hybrid products to increase, and just 7.2% said they expect sales of those products to fall.