An unexpected announcement by MetLife that it will exit the long term care insurance market in less than two months stunned an industry that has been forced to endure an escalating series of negative announcements over the last three years. The industry has worked for years to meet the needs of baby boomers would begin crossing over into retirement age, and long term care insurance policy sales should be booming. But instead, the industry has been set back by decreasing sales, rate increases, blocks of business being taken over by state risk pools, and now the sudden departure of one of the leading carriers and brand names for retirement and long term care security.

This storm has been brewing for some time, but it became particularly evident in the last three years through a series of disruptive events emanating from the leading long term care insurers.