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Desjardins Financial to discontinue sales of long-term care insurance products

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Desjardins Financial to discontinue sales of long-term care insurance products

Desjardins Financial Security Life Assurance Co. will stop new sales of its stand-alone long-term care insurance product, effective June 15, 2018, and is working on an alternative solution for clients, Investment Executive reported, citing a company spokesman.

The company will continue to sell its Life with LTC Advance, a hybrid life insurance product.

Manulife Financial Corp. stopped selling long-term care insurance, effective Nov. 30.