One of my mentors always used to tell me, "The only constant in life is change."

That certainly holds true when it comes to both the individual and group long-term care insurance marketplaces. Not too long ago, numerous companies were offering voluntary and executive group LTC insurance to small, mid-size and large employers, usually offering guaranteed issue (GI) underwriting. Even groups with as few as three employees received simplified issue (SI) underwritten policies.

Fast-forward to today. There's a new normal when it comes to the marketplace — from the companies offering coverage, to types of programs available, and the underwriting concessions provided to employer groups. Over the past five to eight years, we've seen numerous in-force rate actions and carrier contraction (suspension of sales or exits).