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Individual Long-Term Care Insurance Sales Continue to Gain: LIMRA
9/25/2007
Windsor, CT, September 25, 2007 — Individual long-term care insurance (LTCI) sales continue to hold their own, with a two percent gain in new premium sales, according to the second quarter survey results from LIMRA International.
Following four years of decline, individual LTCI sales have increased for the second quarter in a row. Total premium for the first two quarters year-to-date was $304.6 million, with more than 144,000 new policies (lives) sold. Individual policy sales were down one percent, the smallest decline since 2002. LIMRA's Individual Long-Term Care Sales Survey trends results for 23 carriers, representing more than 95 percent of the individual LTCI market.
Seventy percent of new buyers bought individual LTCI from one of five carriers and new premium for the top-five carriers combined grew seven percent in the first half of 2007. Overall, the number of carriers experiencing growth was nearly equal to the number experiencing declines, yet another indication of a more positive outlook for LTCI.
About LIMRA International
LIMRA International is a worldwide research, consulting and professional development organization that helps more than 850 insurance and financial services companies in 73 countries increase their marketing and distribution effectiveness. Visit LIMRA International at www.limra.com.