The move will not affect coverage for the company's existing LTC insureds, the company says.
The decision to stop writing new LTC insurance business, effective Dec. 30, came after an "extensive review" of the market, according to the announcement by MetLife (NYSE: MET), New York.
The company will continue to accept new applications for individual LTC policies if they are received by Dec. 30. For existing group and multi-life LTC insurance plans, it will stop accepting new enrollments throughout 2011, with the timing based "on existing contractual obligations" with employers, MetLife said.
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