Sales Take Off for Life Policies With LTC Benefits

The State Life Insurance Company, a OneAmerica company, says 2012 was its best ever year for sales of “Asset-Care,” a life insurance product with long-term care benefits. State Life achieved growth of 28% over its previous record set in 2011. State Life sold more policies in 2012 than it did in any other year.  Chris Coudret, executive vice president of State Life said, “More and more consumers are looking to guarantee their long-term care protection and are turning to asset-based long-term care products. With these ‘hybrid’ or ‘combo’ products, consumers can access their life insurance death benefit income tax-free to pay for qualifying expenses. Coudret says that the popularity of Asset-Care is also being driven by a patented joint care option, in which a single policy provides long-term care funding for a couple.

According to LIMRA, half of the top 20 companies that offered individual health-based long-term care insurance in 2005 have exited the market. Also, a majority of companies have had to request rate increases for stand-alone LTC insurance. For more information, visit

Last Updated 06/29/2022

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