States see double-digit increase of long-term care insurance policyholders

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Twenty-five states experienced a double-digit jump in the number of residents with long-term care insurance, while smaller states recorded the biggest increase in growth compared to the year prior, according the American Association of Long-Term Care Insurance 2011 LTC Sourcebook.

The number of Alaskans with LTC insurance jumped almost 130%, as Wyoming and Vermont experienced increases by 62% and 48% respectively, according to the data. The states with the highest percentage of LTC insurance policy holders include California, New York, Texas, Florida and Illinois. More than 450,000 New York residents have LTC insurance.

Pennsylvania and Missouri were the only states to experience a decline in the number of residents covered. A possible explanation for this, according to AALTCI executive director Jesse Slome, is that the number of lapsed policyholders is greater than the number of newly insured state residents.

"Many insurance agents are having their best years as prospects are seeking them out; something that has never occurred before," Slome said