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 period last year, according to a report from the American Association for Long-Term Care Insurance.
The report is based data indicating nearly 25,000 individual long-term care insurance policies were submitted during the first two months of this year.
"Starting the year with significant sales growth is a welcome and very positive sign for the industry," said 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 increases of between 30 percent and 55 percent 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 said. "Overall this is a great start to the year and the continued outlook is excellent."
According to the association, leading LTCI market leaders include Genworth Financial, John Hancock, Transamerica, Med America, Life Secure and New York Life.
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