Entering the LTC insurance market barely three years ago, American General has now exited that market for good. Applications will be accepted only until Aug. 1st. In a PNR, AGL explained simply that a correct mix of health-related insurance products were needed to grow the company and that LTCi – in the current interest rate environment – did not fit into that mix. They will continue to offer Accidental Death and Critical Illness policies through their various distribution channels.
For the time being, that leaves Designs In Life with only three stand-alone LTCi carriers: John Hancock, Genworth, and Transamerica. Other LTCi linked carriers include Lincoln National (MoneyGuard), Genworth (TLC), John Hancock, Nationwide, and AXA (Life + LTC rider), and OneAmerica (State Life – Asset Care and Annuity Care).