Medicarians Reflection – Trends in the Long-Term Care and Life Insurance Markets

On April 10, HCG Secure’s founder and CEO, Tom Beauregard, had the opportunity to lead an agent roundtable at the Medicarians Conference in Las Vegas. Here, Tom shares some key insights from this conversation and points to trends and needs in the broker marketplace.

Rising Costs and Increased Awareness

With the aging population, the demand for long-term care services is on the rise. Simultaneously, the costs associated with long-term care insurance and hybrid policies have been steadily increasing. This has led to a heightened awareness among consumers about the importance of planning for long-term care needs and a desire for lower face amount, lower cost offerings.

Renewed Focus on Wellness and Prevention

There’s a growing emphasis on wellness and preventive care to mitigate the need for extensive long-term care services in the future. More often, HCG and other organizations are offering incentives or discounts for policyholders who participate in wellness programs and/or maintain healthy lifestyles.

Innovative Life Products

To fill in for expensivetraditional Long Term Care Insurance (LTCi), Life insurance products are evolving to offer more than just a death benefit. Features such as living benefits, which allow policyholders to access a portion of the death benefit while still alive in case of qualifying events like terminal illness or chronic care needs, are gaining popularity.

Simplified Underwriting Processes

To cater to today’s fast-paced world, insurers need to and are beginning to, adopt simplified underwriting processes relying on electronic health records, rather than medical exams, to expedite application approvals.

Focus on Financial Planning

Life insurance is increasingly seen as a tool for comprehensive financial planning, rather than just protection against premature death. Insurance agents are looking to integrate life insurance solutions into broader financial strategies encompassing retirement planning, wealth accumulation, and estate preservation.

Education and Expertise

Both life insurance and LTCi policies require greater client education than simpler and better-understood P&C products. With the complexity of these products and evolving consumer needs, there’s a growing demand for knowledgeable insurance professionals who can guide clients through the decision-making process.

Diversifying Offerings

As consumer preferences and market dynamics evolve, insurance agents can expand their product offerings to meet diverse needs. This may involve partnering with multiple insurance carriers to offer a comprehensive suite of products, including life insurance, long-term care insurance, annuities, and other financial services.


The long-term care and life insurance markets are undergoing significant transformations, seen in HCG Secure’s work, driven by demographic, economic, and technological factors. Insurance agents who embrace these trends, adapt to changing consumer needs, and prioritize client education to enhance their services will thrive in this dynamic environment. By providing tailored solutions, building trust, and delivering value-added advice, insurance agents can continue to play a vital role in helping individuals and families secure their financial futures.