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Article: Survey: LTC Policy Sales Have Doubled in Five Years.
- Article from:
- Best's Review
- Article date:
- June 1, 2000
CopyrightCOPYRIGHT 2000 A.M. Best Company, Inc. 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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A survey by the Health Insurance Association of America says the number of private long-term-care insurance policies sold in the United States has doubled in the past 5 1/2 years, climbing to nearly 6 million policies sold by mid-1998 from 3 million in 1992.
The report said the growth in long-term-care insurance sales has averaged 21% annually from 1987 to 1997. The report is titled Long-Term Care Insurance in 1997-1998, but it includes statistics for other years.
The survey involved 119 long-term-care insurance providers, said HIAA spokesman Richard Coorsh.
"Our nation soon will be beset by a veritable demographic tidal wave of baby boomers ...