Top Long-Term Care Insurance Companies Shared by AALTCI
Los Angeles, CA, December 17, 2021 --(PR.com)-- The nation’s 10 largest long-term care insurance companies have over 73 percent of all covered lives according to the American Association for Long-Term Care Insurance.
“A relatively few companies account for the majority of in force policies,” reports Jesse Slome, director of the organization. “Genworth remains the largest of the companies with over 1.1 million policyholders.”
Slome was sharing the information with a consumer group seeking an industry update. “The long-term care insurance industry continues to evolve,” Slome shared with the group. “Where once there were dozens of companies offering policies, today on a few still do. But even when an insurer stops selling new policies, they continue to service and pay claims on existing policies.”
Of the top-10 long-term care insurance companies based on in-force policies, Mutual of Omaha, New York Life, Bankers Life and Northwestern Mutual continue to offer new policies. “Traditional long-term care insurance policies now account for a smaller percentage of new policy sales,” Slome states. “The majority of new policies are linked-benefit policies that generally include a combination of life insurance and long-term care insurance benefits.”
The following are the top-10 long-term care insurers.
Lives in Force Market Share %
Genworth 1,167,238 22.09
John Hancock 893,317 16.90
Met Life 448,748 8.49
Continental Cas. 413,485 7.83
Northwestern Mutual 260,077 4.92
Transamerica 251,211 4.76
Prudential 211,771 4.01
Mutual of Omaha 200,391 3.79
New York Life 149,660 2.83
Bankers Life 131,981 2.51
To access the latest long-term care insurance statistics and data visit the organization’s website at www.aaltci.org/LTCFacts-2022/. To obtain long-term care insurance costs from a long-term care insurance specialist call the organization at 818-597-3227 or visit their website www.aaltci.org.
“A relatively few companies account for the majority of in force policies,” reports Jesse Slome, director of the organization. “Genworth remains the largest of the companies with over 1.1 million policyholders.”
Slome was sharing the information with a consumer group seeking an industry update. “The long-term care insurance industry continues to evolve,” Slome shared with the group. “Where once there were dozens of companies offering policies, today on a few still do. But even when an insurer stops selling new policies, they continue to service and pay claims on existing policies.”
Of the top-10 long-term care insurance companies based on in-force policies, Mutual of Omaha, New York Life, Bankers Life and Northwestern Mutual continue to offer new policies. “Traditional long-term care insurance policies now account for a smaller percentage of new policy sales,” Slome states. “The majority of new policies are linked-benefit policies that generally include a combination of life insurance and long-term care insurance benefits.”
The following are the top-10 long-term care insurers.
Lives in Force Market Share %
Genworth 1,167,238 22.09
John Hancock 893,317 16.90
Met Life 448,748 8.49
Continental Cas. 413,485 7.83
Northwestern Mutual 260,077 4.92
Transamerica 251,211 4.76
Prudential 211,771 4.01
Mutual of Omaha 200,391 3.79
New York Life 149,660 2.83
Bankers Life 131,981 2.51
To access the latest long-term care insurance statistics and data visit the organization’s website at www.aaltci.org/LTCFacts-2022/. To obtain long-term care insurance costs from a long-term care insurance specialist call the organization at 818-597-3227 or visit their website www.aaltci.org.
Contact
American Association for Medicare Supplement Insurance
Jesse Slome
818-597-3205
www.aaltci.org
Jesse Slome
818-597-3205
www.aaltci.org
Contact
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