Penn Treaty American to sell long term care insurance to subsidiary

     Penn Treaty which has been the long term care insurance company that would take certain high risk cases with people who have health concerns announced today that they are selling most of their LTC business to a subsidiary American Network Insurance Company (ANIC).  As an agent in the long term care insurance business for 10 years it will be interesting to see if the new company will still insurance the high risk cases. 

     There is a huge need for a 2nd tier carrier because the blue-chip companies have become tighter and tighter with their underwriting; it's becoming increasingly hard for people with a few health concerns to qualify for coverage.  At LTCtree we are independent brokers and will follow this story to see if the newly formed company will be a good fit for some of our clients.  Stay tuned.

Update: Penn Treaty may be liquidated.  Read this article for the latest updates.