Another Major LTC Player Making Sweeping Changes

[CALTCAgent]

Contrary to your beliefs, I come on here to learn. I have changed some of my advice over the last few years by things I have found on here.

Thanks for sharing your ideas. Adversarial or not, I think it makes everybody better. I thought it was a good and interesting discussion by everybody involved.

 

[yankee466]

one of my favorites.....and my take on this relentless thread



Hope you enjoy.

 

[MedSuppPro]

It sure looks like the LTCi biz is heating up!!!

 

[wc2624]

Hancock is introducing a new product...or at least changes to their Custom Care III product. More info in August according to they.

 

[Mr_Ed]

Hancock is introducing a new product...or at least changes to their Custom Care III product. More info in August according to they.

it's probably the biggest innovation in LTCi since home care benefits were first added to nursing home only policies.

it's not just a re-make of the CC3--it's a completely new way of looking at LTCi.

 

[wc2624]

it's probably the biggest innovation in LTCi since home care benefits were first added to nursing home only policies.

it's not just a re-make of the CC3--it's a completely new way of looking at LTCi.

Looks like the change is with the inflation rider but the info released was a bit cagey. Some of it looks like a new take on the FPO.

 

[Arthur Rudnick]

View attachment LTCNewslink3092CCIIIwithBB071612[1].pdf


Another bogus inflation option.........

 

[billberry12]

Interesting how they casually mentioned the 9% and 15% price adjustment for CPI and 5% compound inflation coverage coming with these changes. I suppose the excitement of the new benefit is suppose to offset the pain of the increase. Paid up at 95 in interesting. 10% every three years is simply a lower priced FPO, like Arthur said.

I must have missed the part of "most innovative change" somewhere.

 

[wc2624]

Hancock is already a bit out of it premium wise in the first place.

Other than the commerical which was posted, it does appear that the innovation is simply a different take on FPO.

Since FPO is a waste of time in the first place and premiums for the more desirable plans will be increasing, this appears at first glance to be a limited innovation.

 

[ikeman07]

And it still is a better contract and much less expensive than Quiet Care.

Everyone knew Geneorth was going to re-price. So what?

If you are selling an apple for $2.50 and the grocer next door raises the price of his apples from $1.00 to $1.60, I am still not going to buy your apple for $2.50 even if you toss in a .10 cent coupon for my next visit.

And it still doesn't mean the grocer next door is going out of business or his apples still don't taste better than yours.

Man....haven't been on this forum for a couple years. Read this article today and thought I'd pop on.

The Old-Age Bill That's Crushing Genworth