by I Advance Senior Care Prudential stops LTC group coverage sales
Prudential Financial is the latest in a line of insurers who are fleeing the long-term care coverage market.
The national insurer announced plans to cease selling LTC group policies in all but five states by August 1. Existing policies will not be affected.
Group coverage products will continue to be sold in Indiana, Iowa, Kansas, Louisiana and South Dakota “for a period of time as required by state law,” according to a Prudential release.
The company cited sluggish returns, low interest rates and poor growth outlook as factors in the decision.
I Advance Senior Care is the industry-leading source for practical, in-depth, business-building, and resident care information for owners, executives, administrators, and directors of nursing at assisted living communities, skilled nursing facilities, post-acute facilities, and continuing care retirement communities. The I Advance Senior Care editorial team and industry experts provide market analysis, strategic direction, policy commentary, clinical best-practices, business management, and technology breakthroughs.
I Advance Senior Care is part of the Institute for the Advancement of Senior Care and published by Plain-English Health Care.
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