"We have seen an increase in interest on our traditional LTC products, through both our individual and group offerings," said Larry Nisenson, chief commercial officer at Genworth's U.S. Life Insurance division. "Web traffic has been increasing in the last week or so."
Nisenson said people are concerned about how and where they'll receive care if they have a long-term care need. That's why they are actively looking for information about solutions. In addition, he said, Genworth maintains strong ties with state and federal authorities to "advocate for legislation that will make long-term-care insurance more affordable and accessible.”
Meanwhile, Gordon at MAGA is monitoring the effect of low interest rates on LTC pricing. "This is especially important for our existing clients with stand-alone policies because of the potential for a future rate increase," he said. "In good or bad economic times, LTC planning is something people need to look at."