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The group long-term care insurance market is shrinking as two major players have bowed out of future sales in the last two weeks. American General and Prudential both announced this month they will stop accepting new applications for LTC policies.

Jesse Slome, executive director of the American Association for Long-Term Care Insurance says these are just the latest casualties of the “new economic times we are experiencing, the historic low interest rates and the regulatory environment at the state level.”

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