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Healthcare Intermediate: Long-Term Care Insurance Underwriting and Premiums

Introduction to Long-Term Care Insurance Underwriting and Premiums The Advent of Long-Term Care Insurance The Importance of Long-Term Care Insurance Underwriting The Long-Term Care Insurance Underwriting Decision Determining Long-Term Care Insurance Premiums Summary of Long-Term Care Insurance Underwriting and Premiums
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Introduction to Long-Term Care Insurance Underwriting and Premiums

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Why are premiums set the way they are? What makes you qualify for insurance? Get a basic introduction to what underwriting is about.

What you will learn

  • The Advent of Long-Term Care Insurance
  • The Importance of Long-Term Care Insurance Underwriting
  • The Long-Term Care Insurance Underwriting Decision
  • Determining Long-Term Care Insurance Premiums

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Introduction to Long-Term Care Insurance Underwriting and Premiums

Long-term care (LTC) insurance is a relative newcomer to the financial planning world and to the insurance industry. Insurance is based upon the laws of large numbers (statistics), which require copious amounts of data in order to make meaningful judgments. Due to its newness and meager data, long-term care insurance got off to a shaky start. But now it appears to be on the right track. An educated investor should know how insurance statisticians (actuaries) develop sound models for the growing need for long-term care and insurance to defray its burgeoning costs.