LTC Product Sales Rise 12%: LIMRA

Advocates for stand-alone LTCI argue that it provides purchasers with much better, more efficient protection against catastrophic LTC risk.

Issuers of life-LTC and annuity-LTC hybrids say that selling those products is easier, because many purchasers like the idea of getting some benefits from the products even if they never need long-term care.

Insurers are hoping that combining LTC benefits with other types of base products will help moderate some of the risks associated with offering stand-alone LTCI.

LIMRA analysts note in the commentary that about 52% of Americans ages 65 and older will eventually need some type of long-term care.

"While we don't expect to see a rise in individual LTCI sales soon, combination products are a great way to fill the gap the decline in individual long-term care insurance sales has left while still meeting at least a portion of consumers' long-term care needs," the analysts write.

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