American Association for Long-Term Care Insurance

Los Angeles; March 19, 2013 – A number of leading long term care insurance companies recorded significant increases in submitted applications during the first two months of 2013 compared to the same time period last year.

According to the findings of a study conducted by the American Association for Long-Term Care Insurance, January and February were busy months for insurers.  The organization based today’s report on data representing nearly 25,000 individual long term care insurance policies submitted during the first two months of the year.

“Starting the year with significant sales growth is a welcome and very positive sign for the industry,” declares Jesse Slome, executive director of the national trade group.  “Despite the negative talk about premium increases and insurer departures, consumer interest has never been greater and based on producer feedback many agents and insurers are having an outstanding start to the new year.”

Several of the nation’s leading insurers reported between a 30-and-55 percent increase in the number of applications submitted during the first two months.  “Not everyone saw submission increases compared to the prior year but everyone still reported very strong sales activity,” Slome admits.   ”Overall this is a great start to the year and the continued outlook is excellent.”

According to the Association, leading insurance companies currently marketing long-term care insurance policies include Genworth Financial, John Hancock, Transamerica, Med America, Life Secure and New York Life.

The American Association for Long-Term Care Insurance provides support to insurance professionals and publishes the annual long term care insurance Sourcebook containing extensive industry research.  For additional information visit the organization’s website or call the national organization at 818-597-3227.

Tags: costs, insurance, long term care, sales

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