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"In 2000 and 2001 alone, 137 companies sold over 1.4 million [long-term care insurance] policies. With this surge in sales, 8.26 million policies were sold as of the end of 2001. The market grew an average of 18% each year between 1987 and 2001.
As of December 31, 2001, approximately 80% of the 8.26 million policies had been sold through the individual and group association markets. In addition, 110 out of 137 insurers who participated in the long-term care market in 2000 and 2001 sold in this market.
About one-third of the 2001 long-term care insurance carriers sold policies in either the employer-sponsored or life insurance markets, compared with only 14% in 1988.
By the end of 2001, more than 4,700 employers were offering a long-term care insurance plan to their employees, retirees or both. There were more than 1,500 employer-sponsored plans introduced in 2000 and 2001 alone. Many small …