{"id":14874,"date":"2019-05-08T00:42:40","date_gmt":"2019-05-08T04:42:40","guid":{"rendered":"http:\/\/lifeinsurance-orleans.ca\/Life-Insurance-Blog\/optimism-on-ltci-sales-persists-among-agents\/"},"modified":"2019-05-08T00:42:40","modified_gmt":"2019-05-08T04:42:40","slug":"optimism-on-ltci-sales-persists-among-agents","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2019\/05\/08\/optimism-on-ltci-sales-persists-among-agents\/","title":{"rendered":"Optimism on LTCI sales persists among agents"},"content":{"rendered":"\n<div><img decoding=\"async\" src=\"https:\/\/ca.res.keymedia.com\/files\/image\/iStock-laptopp-business-clientt-insurr-brokerr-agenttid853704540(1).jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p>From an observer\u2019s perspective, the gloomy headlines about long-term care insurance (LTCI) \u2014 particularly from news stories focused on issuers\u2019 efforts to get approvals for rate increases for those holding in-force LTCI policies \u2014 suggest a reason for concern.<\/p>\n<p>But ask the agents who offer protection against long-term care risk, and they would likely say that they have a positive market outlook.<\/p>\n<p>In a recent survey of LTCI agents conducted by the American Association for Long-Term Care Insurance (AALTCI), 47.6% of participants reported that they expect their own sales of new, traditional LTCI policies to rise this year; in contrast, just 20.8% forecast a decrease in their sales of such products.<\/p>\n<p>Shift the spotlight to hybrid products, which combine LTCI benefits with life insurance policies or annuities, and the outlook is even better. Around 66% of participating agents said they expect increased sales for LTC hybrid products, with just 7.2% expecting a fall in sales of those products.<\/p>\n<p>\u201cOverall, there was great optimism for the future of the industry and their own personal sales,\u201d said Jesse Slome, director of AALTCI.<\/p>\n<p>Asking participants about their outlook further into the future, 43.1% of the respondents said that they expect sales of both traditional and linked-benefit policies to be higher in 2024 than they are today, while just 6.6% expected lower sales for both. A 7.5% minority, meanwhile, expressed expectations that traditional long-term care insurance products would no longer be sold, and all sales would focus on linked-benefit long-term care offerings.<\/p>\n<p>Based on figures from <a href=\"https:\/\/www.lifehealthpro.ca\/tools\/companies\/limra\/222231\/\">LIMRA<\/a>, the market for life combination LTC protection now consists of US$4 billion on annual premiums and more than 260,000 policies sold in the US. That accounts for 80% of the overall market for individual LTC solutions.<\/p>\n<p>The increased demand for linked-benefit solutions has come as life-insurance policyholders seek the ability to unlock part of their benefit or cash value to cover unforeseen long-term care expenses.<\/p>\n<p> <a href=\"https:\/\/www.lifehealthpro.ca\/news\/optimism-on-ltci-sales-persists-among-agents-257164.aspx\">Read the original article at https:\/\/www.lifehealthpro.ca\/rss\/ <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>From an observer\u2019s perspective, the gloomy headlines about long-term care insurance (LTCI) \u2014 particularly from news stories focused on issuers\u2019 efforts to get approvals for rate increases for those holding in-force LTCI policies \u2014&#46;&#46;&#46;<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/14874"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=14874"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/14874\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=14874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=14874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=14874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}