Allegations that GE's long-term-care unit is suffering massive losses comes amid multiple challenges in the market, which has shrunk precipitously in recent years.
. Part of the report zeros in on GE's long-term-care business unit, which the author says is experiencing huge losses that will only get worse as policyholders age.
Regardless of the merits of the allegations in the report, it's no secret that the long-term-care insurance market has been struggling due partly to an aging population whose claims against their policies have exceeded cost expectations. Low interest rates over many years have also meant lower-than-expected investment returns for the carriers.
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