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2000-2023 Long-Term Care Data Request

The Society of Actuaries (SOA) Research Institute’s Long Term Care Experience Committee (LTCEC) and LIMRA are soliciting claim incidence, termination, and utilization experience for stand-alone Long Term Care Insurance (LTCI) policies for contract years 2000 through 2023.

The SOA Research Institute and LIMRA are partnering to complete insurance industry experience studies. Under this partnership, the SOA Research Institute’s LTCEC and LIMRA plan to complete an update to the Long Term Care Insurance Experience Study completed in 2020 that covered experience for contract years 2000 through 2016.

The scope of this experience study is for stand-alone long term care insurance products including both group and individual coverage. This study does not include hybrid, acceleration, or combination products, which may be the subject of a separate study.

The goals of this update are to:

  • Analyze policy persistency and claim incidence, termination, and utilization trends across the LTC Industry;
  • The Study will include sufficient detail to enable companies to understand how their experience from 2000 through 2023 has compared against the industry. The Study may also augment each company’s own experience analysis, improve communication of results to senior management and better inform LTC block management decisions;
  • The results of the Study will also provide the industry with information to understand the actuarial risk of LTCI policies; and
  • Regulators of the LTC industry have expressed a strong interest in the completion of an updated study of LTC experience. The LTC industry is also interested in such a study, especially if it can provide more experience for attained ages above 89. This study will use the latest technology to provide as much LTC experience data as possible, while still protecting company confidentiality and adhering to the strict HIPAAA privacy laws.

Please see attached documents for instructions on data submission and format. The 2000 through 2023 experience data is due to LIMRA by September 15, 2025.

The following may be included in the Standard Data Package made available for purchase:

  • detailed experience study report with analysis and commentary;
  • a set of data visualization dashboards with the ability to filter on and drill down into the detail of the results of the study;
  • dataset(s) containing the aggregated experience collected for the purpose of this study. The datasets may be made available in excel files, text files or downloads from the data visualization tool;
  • models or other tools developed to support the analyses completed in the study; and
  • other outputs as determined by the SOA Research Institute and LIMRA.

For more information, please refer to the attached data submission instructions and feel free to contact us with any questions.

Materials

2000-2023 Long Term Care Experience Study Data Request

2000-2023 Long Term Care Experience Study Data Elements

2000-2023 Long Term Care Experience Study Data Questionnaire

Questions Or Comments?

If you have any questions, please contact StudyPro@soa.org