After a promising start in 2008, individual long-term care insurance (LTCI) premium fell 23% in the fourth quarter, ending 2008 down 7%, according to the Individual Long-Term Care Sales survey released by LIMRA, a worldwide research, consulting and professional development organization.

“The economic downturn had a significant impact on LTCI sales during the second half of 2008,” says Karen Fisherkeller, LIMRA associate analyst, group and LTC product research. “Historically, individual products have emerged relatively unscathed from the effects of a recession. This time, however, all individual product lines have taken a hit and LTCI appears particularly vulnerable.

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