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The Resource Long-Term Care Insurance: Better Controls Needed in Sales to People With Limited Financial Resources

Long-Term Care Insurance: Better Controls Needed in Sales to People With Limited Financial Resources

Contributor
Summary
To provide information on financial factors that limit the purchase of long-term care insurance, we reviewed two studies: one by research the Brookings Institution, and the other by the Families USA Foundation and the United Seniors Health Cooperative. We also reviewed research conducted by the Agency for Health Care Policy and Research of the Department of Health and Human Services, which addresses the elder population that may not be able to obtain long-term care insurance because of health problems. To provide information on companies' sales policies, we obtained information from eight companies that sell individual long-term care insurance policies nationally. We selected these companies because information obtained from insurance companies and other sources indicated that, as of December 1990, their long-term care business collectively represented about one-half of the policies sold in this country. One of the eight companies sold policies through captive agents only, sold through independent agents only, and four sold through both. One company sold through direct mail without the aid of agents. Because we had limited access to the insurance companies' records a) did not observe company practices and agent behavior first-hand, we on information the companies provided us. We obtained and reviewed(company's long-term care insurance policies, outlines of coverage, of applications, agent training manuals, underwriting guidance for agents and marketing material. When necessary, we interviewed officials from companies to obtain clarification of these materials. We also interviewed officials to determine the companies' policies regarding sales to low-income people. (KAR)
Language
eng
Work
Publication
Extent
19 pages
Note
Report to the Chairman, Committee on Energy and Commerce, House of Representatives
Instance
Label
Long-Term Care Insurance: Better Controls Needed in Sales to People With Limited Financial Resources
Title
Long-Term Care Insurance: Better Controls Needed in Sales to People With Limited Financial Resources
Contributor
Subject
Language
eng
Summary
To provide information on financial factors that limit the purchase of long-term care insurance, we reviewed two studies: one by research the Brookings Institution, and the other by the Families USA Foundation and the United Seniors Health Cooperative. We also reviewed research conducted by the Agency for Health Care Policy and Research of the Department of Health and Human Services, which addresses the elder population that may not be able to obtain long-term care insurance because of health problems. To provide information on companies' sales policies, we obtained information from eight companies that sell individual long-term care insurance policies nationally. We selected these companies because information obtained from insurance companies and other sources indicated that, as of December 1990, their long-term care business collectively represented about one-half of the policies sold in this country. One of the eight companies sold policies through captive agents only, sold through independent agents only, and four sold through both. One company sold through direct mail without the aid of agents. Because we had limited access to the insurance companies' records a) did not observe company practices and agent behavior first-hand, we on information the companies provided us. We obtained and reviewed(company's long-term care insurance policies, outlines of coverage, of applications, agent training manuals, underwriting guidance for agents and marketing material. When necessary, we interviewed officials from companies to obtain clarification of these materials. We also interviewed officials to determine the companies' policies regarding sales to low-income people. (KAR)
Cataloging source
DTICE
Index
no index present
Literary form
non fiction
http://library.link/vocab/relatedWorkOrContributorName
GENERAL ACCOUNTING OFFICE WASHINGTON DC HUMAN RESOURCES DIV
http://library.link/vocab/subjectName
  • Marketing
  • Aging(physiology)
  • Procurement
  • Insurance
  • Adults
  • Policies
  • Commerce
  • Humans
  • Health
  • Long range(time)
  • Access
  • Resources
  • Medical services
  • Postal service
  • Instruction manuals
  • Finance
  • Economics and Cost Analysis
  • Sociology and Law
  • Government and Political Science
Label
Long-Term Care Insurance: Better Controls Needed in Sales to People With Limited Financial Resources
Instantiates
Publication
Note
Report to the Chairman, Committee on Energy and Commerce, House of Representatives
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Extent
19 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Hein Online
System control number
  • (OCoLC)227823506
  • (OCoLC)ocn227823506
Label
Long-Term Care Insurance: Better Controls Needed in Sales to People With Limited Financial Resources
Publication
Note
Report to the Chairman, Committee on Energy and Commerce, House of Representatives
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Extent
19 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Hein Online
System control number
  • (OCoLC)227823506
  • (OCoLC)ocn227823506

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