Any Insights on John Hancock's "Performance LTC" Policies?

LTC_Client

New Member
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Hi,

My wife and I are looking to buy LTC insurance. We're down to two providers, MassMutual and John Hancock. JH's Performance LTC sounds promising, but it seems pretty complex. In fact, if it were from a "fly-by-night" company, I would consider it downright shady. I wouldn't expect their broker to tell me any downsides to it, but I thought perhaps I could get some neutral insight on this forum.

Any takers?
 
Hi,

My wife and I are looking to buy LTC insurance. We're down to two providers, MassMutual and John Hancock. JH's Performance LTC sounds promising, but it seems pretty complex. In fact, if it were from a "fly-by-night" company, I would consider it downright shady. I wouldn't expect their broker to tell me any downsides to it, but I thought perhaps I could get some neutral insight on this forum.

Any takers?

Run to Mass Mutual. No, sprint to Mass Mutual. Better yet, take a lear jet to Mass Mutual.
 
Mass Mutual ASAP. I personally believe they designed that policy so agents wouldn't sell their LTCI product. It worked for me. I've been in this business for 15 years, and the last JH policy I sold was in 2007. And it was only because they would take an underwriting risk that no one else would at the time.

nuff said??? :skeptical:
 
Hi,

My wife and I are looking to buy LTC insurance. We're down to two providers, MassMutual and John Hancock. JH's Performance LTC sounds promising, but it seems pretty complex. In fact, if it were from a "fly-by-night" company, I would consider it downright shady. I wouldn't expect their broker to tell me any downsides to it, but I thought perhaps I could get some neutral insight on this forum.

Any takers?


has the agent explained to you that the premiums for the JH Performance LTC policy are likely to go up most years?
 
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No question, go with Mass. Much better company. MUCH better history of stable rates. Hancocks "performance" policy is all smoke and mirrors.
 
Lol lol lol lol lol.

This is a worthless thread. Surely the OP is smart enough to figure out the best policy value.

By what? Based on what the person selling MassMutual tells me ("We probably won't raise rates") or what the person selling JH tells me ("We probably won't raise rates by much")?

I know MM hasn't raised rates on their policyholders, but they've also been selling LTC for only 15 years, if I understand correctly. Given that most of those policies were probably sold to people 50-65 years old, those folks are now 70-85. In other words, just starting to cash in those policies. "Past performance is no guarantee of future returns," as they say. Is anyone here ready to guarantee they won't have to jack up rates on policyholders over the next 25 years?

Maybe JH's Performance LTC is "smoke & mirrors," but that's why I'm here: to find out how is it smoke and mirrors?

Can we not have a discussion on the merits/risks of the two programs rather than just saying "Buy this" or "Buy that" or "this is a worthless thread"?
 
The OP trying to make this decision is a perfect example of what working with someone who has a limited offering does. One agent has a particular policy he wants to write, so he justifies it any way he can, and tears down his opposition's policy.

If this OP would simply work with an independent long term care professional that offers just about all policies, he could get an unbiased opinion of what is best with a full explanation of why it is. Unless the OP works exclusively with an agent who is strictly a long term care professional and spends all his time keeping up with all the companies and policies as they change, he can't get the information he needs in an unbiased manner.

Sorry OP, but this is the real world of this product. Try to make this less frustrating for yourself.

Get ONE of these guys on this forum to work with you exclusively. Talk to Scott or Jack or Arthur, or a couple more, then pick one and get it done.

I think you probably should consider Mutual of Omaha.
 
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