90% Premium Increase?

[Arthur Rudnick]

originally posted by Mr_Ed

gnw is a much better value in NY if he's healthy.

The guy is looking for $500/day. GNW caps out at $300/day

 

[ltcadviser]

originally posted by Mr_Ed



The guy is looking for $500/day. GNW caps out at $300/day

Who cares about Genworth. Mass Mutual. NY Life. MedAmerica. Transamerica. Mutual of Omaha. Companies go $400 or $500 day.

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previously posted by ltcadviser



Just checked Mutual of Omaha. At standard rates, for a single, with $15,000/month, 5-year benefit period, 90-day ep with a Waiver for HC, the premium is $20,000/yr. Probably a once in a lifetime sale for you if he takes it. And, if he's married, it comes to $30,000/year.

Even with a 20% state tax credit that's out of reach for 99.9% of consumers. And, if he can afford the premium, that means he has substantial income. If he has that much income, IMO, he's over-insuring himself. Today, for 24/7, even through an agency, you can work out rates for $300/day.

Very high net worth. Premiums were 13500 -19000. Non issue for him. No big deal to me.

And these premiums are not "once in a lifetime sales" Arthur. I once had a Coli case opened up with a $14 million annual premium. That was a once in a lifetime case. Smh.