How the election results may impact LTC Insurance

Posted by Tom Riekse Jr on Nov 9, 2016 9:56:54 AM

What will the impact of yesterday's election have on LTC Insurance?   Nobody knows, but that doesn't mean we shouldn't try and make some educated guesses.  At the risk of exposing myself to feedback,  here is my opinion on the subject!

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Topics: Long-term Care Insurance in the News

People are delaying their purchase of LTC Insurance - why?

Posted by LTCI Partners on Sep 1, 2016 3:32:58 PM


Remember the first few years after the financial crisis when car sales plummeted and General Motors had to be bailed out?  At the time, even when gas prices were very low, people were cautious about making a big purchase. Due to unemployment and uncertainty, people delayed buying cars, the average age of cars got older, and repair shops reaped the benefits.

Now, of course, we have seen several recent great years for the auto business as pent up demand led to sales. In addition, during the lean years companies like GM learned how to build better products and be profitable on each sale instead of having finance driven sales.  As this recent article notes, "Everything is sunshine and smiles over at General Motors"

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Topics: Current affairs, Long-term Care Insurance in the News

Why there is no excuse to let policyholders lapse LTC insurance coverage

Posted by Tom Riekse Jr on Nov 12, 2015 2:52:42 PM

If you ever talk to LTC actuaries who designed long-term care products in the 1990's, they'll admit they miscalculated the expected lapse rate of LTC insurance. They'll mention that they made the calculations based on the best available information at the time and that premiums were low because they were "lapse supported." When those expected lapse rates were lower than planned it was one of the reasons that in-force rate increases became necessary.

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Topics: For financial professionals, Long-term Care Insurance in the News