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Article: LSTC insurance sales rebounded in 1995. (long term care; Health Insurance Association of America report)
- Article from:
- National Underwriter Life & Health-Financial Services Edition
- Article date:
- May 26, 1997
- Author:
CopyrightCOPYRIGHT 1997 The National Underwriter Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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After two consecutive years of declining sales, the long-term care insurance market rebounded in 1995 to post its highest yearly total of policies sold.
According to the Health Insurance Association of America, which has been tracking the figures since 1987,517,000 individuals purchased LTC insurance in 1995.
The findings confirm what HIAA President Bill Gradison said roughly one year ago: that long-term care insurance is one of the industry's strongest growth areas, and that the sales slump of 1993 and 1994 should turn around in 1995.
Indeed, the 517,000 policies sold is a marked improvement over both 1994 (420,000 sold) and 1993 (487,000 ...