Economics
Prudential Halts Sale of Individual Long-Term Care
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Prudential Financial Inc., the second-biggest U.S. life insurer, said it will halt the sale of individual long-term care policies, joining rivals in retreating from the industry.
The company will continue to offer group long-term care insurance, Newark, New Jersey-based Prudential said today in a statement distributed by Business Wire. Existing contracts are guaranteed renewable and won’t change, Prudential said.