By Raymond Nelson, ASA, MAAA (originally published in The Society of Actuaries’ Long-Term Care News, Issue 46, December 2017)
Premium increases on in-force long-term care (LTC) insurance policies have been a minefield for the LTC industry for nearly the past 20 years. As a company that works closely with LTC insurers, state insurance departments and policyholders, we understand the difficulties that LTC rate increases impose on all parties involved.
When you think about outsourcing the administration of your long-term care insurance block, what holds you back? Do you think no one else can manage it for the same costs – or less – than you do? Are you concerned that no one can do the work as well as your own employees? Are you worried that switching administrative platforms will be complicated and painful?
How can you find a partner that answers all these questions correctly, and who has walked in your shoes and understands the unique challenges you face both strategically and tactically?
By Laura Moore and Jeremy Pincus (originally published in CLTC Digest, 3Q 2017)
In the early days of long- term care (LTC) insurance, excitement and optimism prevailed. The need for this protection was so clear, and carriers were making investments and allocating resources to support product development and launch. Tens of thousands of Baby Boomers are turning 65 every day – surely they will see the value of this important coverage!