Another Major LTC Player Making Sweeping Changes

[2insureyou]

I'll not say who, as I"m not sure how much is public, but a huge life insurer, and Top 10 player in the LTC market is making sweeping changes, per an email I received as one of their brokers.

• Their shared care is being significantly limited to 2 or 3 year benefit periods
• No more ROP of any kind
• No more limited pay, such as 10 pay or to age 65
• No more lifetime benefit or 10 year benefit available

This will be complete by the end of the month.This applies to ALL states.

 

[Arthur Rudnick]

I'll not say who, as I"m not sure how much is public

If you were notified via email, it's already public.
Who is the carrier?

 

[VolAgent]

If you were notified via email, it's already public.
Who is the carrier?

As I recall, he is a NWM agent. So it was probably an internal email.

 

[Arthur Rudnick]

As I recall, he is a NWM agent.

I think you're right.

So, now there will be a poduct on the market with less available options and STILL 2,000,000,000% higher than it's competition.

He says:

a huge life insurer, and Top 10 player in the LTC market

now, "A top 50 player"

 

[Mr_Ed]

As I recall, he is a NWM agent. So it was probably an internal email.

nwm doesn't sell a 10 year benefit period.

it must be mm.

 

[VolAgent]

nwm doesn't sell a 10 year benefit period.

it must be mm.

Could be, I know he sells some MM life. That was my second guess. But then its not an internal email, so why not post it?

 

[CALTCAgent]

Until I one time hear somebody tell me they have a MM LTC policy I cannot call them a "major player". Not once in 15 years have I heard someone tell me. Or at least that I remember. Maybe its a CA thing.

Just tell us who it is! lol

 

[Arthur Rudnick]

Here we go..........

Effective June 29, 2012, the following benefits will no longer be offered within the MassMutual stand alone LTC insurance portfolio for [FONT=Arial","sans-serif]ALL STATES[/FONT]:

* Lifetime and 10-year benefit periods
* Both Return of Premium Riders (Full Return of Premium and Return of Premium upon death)
* All limited premium payment options (10-year, Paid-up at age 65 and Discounted Renewals)
* Shared Care Rider - Still available but limited to 2 year & 3 year benefit periods only.

Directly from Mass Mutual, in a "Private" email to me (and the rest of the planet)

 

[Mr_Ed]

Here we go..........

Effective June 29, 2012, the following benefits will no longer be offered within the MassMutual stand alone LTC insurance portfolio for [FONT=Arial","sans-serif]ALL STATES[/FONT]:

* Lifetime and 10-year benefit periods
* Both Return of Premium Riders (Full Return of Premium and Return of Premium upon death)
* All limited premium payment options (10-year, Paid-up at age 65 and Discounted Renewals)
* Shared Care Rider - Still available but limited to 2 year & 3 year benefit periods only.

Directly from Mass Mutual, in a "Private" email to me (and the rest of the planet)

called it!!!!!!!!!!!!!

mred

 

[Arthur Rudnick]

called it!!!!!!!!!!!!!

Good job!
You win the prize. Not sure what the prize is, but you win it anyway.