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MetLife Inc. said it will halt sales of long-term-care insurance

MetLife is among the bigger sellers of the coverage, with about 600,000 policyholders, or about 8%, among the eight million who have long-term-care insurance in the U.S., according to the company and an industry trade association.  Its $36 million in sales last year were dwarfed by perennial industry leaders John Hancock Financial, at $116 million, and Genworth Financial Inc., at $108 million, according to Broker World. John Hancock recently said it would ask state regulators for an average 40% increase for about 850,000 of its 1.1 million long-term-care policyholders. Allianz SE and Minnesota Life Insurance Co., a subsidiary of Securian Financial Group Inc., are among the companies that halted sales of long-term-care insurance in the last two years. Read more about this in the Wall Street Journal

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