Low interest rates and policyholders' unwillingness to drop coverage are two of the key reasons the long-term care insurance market is in trouble, an expert asserts.
Genworth Financial announced that it is taking several of its long-term care insurance options off the table.
Prudential Financial announced that it plans to stop selling individual long-term care policies. The nation's second-largest insurer will instead focus on providing group long-term care coverage, according to a company statement. The firm says it will honor all previously sold policies and contracts.
Insurance stalwart Prudential Financial announced Wednesday that it is exiting the long-term care insurance business.