AALTCI Issues Long Term Care Insurance Industry 2016 Forecast

Jesse Slome, long term care insurance expert

Jesse Slome, long term care insurance expert

LOS ANGELES, CA, December 22, 2015 – More Americans will purchase long term care insurance protection in 2016 is one of the significant forecasts issued today by the director of the American Association for Long-Term Care Insurance.

“Change will continue to impact the long term care insurance industry in 2016,” forecasts Jesse Slome, executive director of the American Association for Long Term Care Insurance (AALTCI).    The industry expert who is entering his 18th year as head of the trade group issued the five major changes or trends he predicts for the coming year.

#1.  Sales Will Increase.  ”Overall, more Americans will purchase some form of long term care insurance protection in 2016 than have done so in recent years,” Slome expects.

#2.  Most Will Opt For Linked-Benefit Products.   Slome expects sales of linked-benefit products including life insurance policies that offer some form of long-term care or critical illness payout benefit will eclipse traditional LTC insurance sales.  “The companies are putting their energy and resources behind these products so the trend away from traditional LTC insurance is inevitable,” Slome adds.

#3.  Distribution Will Change.   Sales of traditional long-term care insurance policies by specialists will grow while fewer incidental insurance brokers will offer LTC insurance to their clients.  “There has been little or no development of new agents to replace the many older agents who retire each year, and consumers are becoming increasingly savvy about the benefit of working with a knowledgeable specialist,” Slome explains.

#4.  Short-Term Care Product Sales Will Grow.   Slome predicts sales of short-term care insurance products will be seen as affordable and viable options for consumers and will increasingly be marketed by agents who sell to seniors.

#5.  Rising Interest Rates Will Result In “Calm”.   After several years of what Slome categorizes as stressful industry years, rising interest rates will be good for insurers still committed to the long-term care insurance marketplace.  “When insurers are positive, the good sentiment will filter down and overall, this sense of calm will be good for the entire industry,” he concludes.

The American Association for Long Term Care Insurance is a national trade organization established in 1998 to promote sound and affordable planning for Americans.  For more information on long-term care insurance options or to find professionals in your area call the organization at 818-597-3227 or visit the organization’s website at www.aaltci.org.

Share and Enjoy:
  • Print
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Add to favorites
  • LinkedIn
  • Reddit
  • StumbleUpon
  • Twitter
  • Slashdot
  • Technorati

Tags: , , , , , ,