The long-term care insurance (LTCI) market is in disarray as large carriers keep raising premiums and the federal government's proposed alternative, the Class Act, has sputtered.
To fill the void for LTCI solutions, sales of hybrid products that combine life insurance and LTCI are soaring, according to Bloomberg Business Week.
Hybrid insurance products are among the most complex for consumers to evaluate on a cost-benefit basis. In most cases, the LTCI benefits represent only an acceleration of the life insurance policy's death benefit – not an increase in the total dollars paid out.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
