American Association for Long-Term Care Insurance

The Observer, an online news service, has just published an editorial feature by Jesse Slome of the AALTCI in support of a viable long-term care insurance marketplace.

“The future of traditional long-term care insurance is vital to all Americans and the matter needs to be addressed,” states Jesse Slome, director of the American Association for Long-Term Care Insurance an advocacy group.

The article focuses on the important role long-term care insurance plays in support of Americans.  “Long-term care insurance already benefits hundreds of thousands of individuals and their families,” Slome points out.

AALTCI’s director notes that annually, LTC insurers pay out approximately $8.6 billion and are expected to pay out between $150 and $180 billion over the next decade.  “The number of Americans receiving LTC insurance benefits is increasing each year, with more than a quarter of a million policyholders receiving benefits in 2016,” Slome adds.

IMPORTANCE OF GENWORTH TRANSACTION

The article authored by Slome makes note of the importance of the Genworth acquisition by China Oceanwide, and voices the industry expert’s concerns should the transaction not take place.

“Genworth is one of the few remaining U.S. insurance carriers committed to long-term care insurance and one of the few carriers working with regulators and both state and federal governments on solutions to overcome the widespread challenges plaguing the industry,” Slome points out in the editorial. “However, Genworth will only be able to steward the change needed if it receives the stabilizing cash infusion provided by the transaction [with China Oceanwide].”

To read the full article go to:
http://observer.com/2017/09/long-term-care-insurance-depends-on-genworth-oceanwide-transaction/

Tags: American Association for Long-Term Care Insurance, genworth, Genworth Financial, long-term care insurance

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