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

Resource Information

The work Long-Term Care Insurance: Better Controls Needed in Sales to People With Limited Financial Resources represents a distinct intellectual or artistic creation found in Boston University Libraries. This resource is a combination of several types including: Work, Language Material, Books.

Label

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

Contributor

• GENERAL ACCOUNTING OFFICE WASHINGTON DC HUMAN RESOURCES DIV

Subject

• Access
• Adults
• Aging(physiology)
• Commerce
• Economics and Cost Analysis
• Finance
• Government and Political Science
• Health
• Humans
• Instruction manuals
• Insurance
• Long range(time)
• Marketing
• Medical services
• Policies
• Postal service
• Procurement
• Resources
• Sociology and Law

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