Best LTC Companies

[JustinUpright]

There are so many LTC companies out there. I was just wondering, what are your favorites and why?

I am focusing on Business Owners DI and think that this would be a good side to offer once they are clients. I am not really looking for a senior product probably going to in the age range of 35-55. Middle to upper class.

 

[annuityseller]

I like john hancock but I'm not an expert in LTC sales also take a look at asset-based LTC (moneyguard)

 

[JustinUpright]

I am no expert either but would like to have it to offer to my existing clients. I know that they are all held to a model so to speak but I also know there are some better companies that would be better suited to LTC just like DI and Life.

 

[Graham]

The top LTC companies in my opinion are (in no particular order) Allianz, Genworth, John Hancock, Prudential, and Transamerica. Yes there are others (Mutual of Omaha, MetLife, MedAmerica, LifeSecure, etc.) but I would consider them second tier often with a specific niche.

They all have their good and bad points and it comes down to how much of an expert are you in LTC or do you want to be. If you are looking for simple products most now have "simplified" products that essentially limit the rider choices to those most often chosen. If there are specific things your clients are looking for like international coverage or cash benefits you can pick the carrier with those features or rely on your FMO to help identify the best options for a particular situation like we often do for our agents.

There are combo products like MoneyGuard or Genworth's TLC but I think you sometimes end up with a watered down version and these are better fit's with those that have a pile of cash sitting around that you can put to use or another life policy you can convert.

If you want more detailed info. feel free to give me a call or shoot me a PM.

 

[JustinUpright]

Graham,
That is the kind of answer I was looking for. I want to have this as an add on to my clients I sell DI too. I was thinking John Hancock so maybe Hancock and Genworth.

Thanks

 

[Graham]

Graham,
That is the kind of answer I was looking for. I want to have this as an add on to my clients I sell DI too. I was thinking John Hancock so maybe Hancock and Genworth.

Thanks

No problem, if you would like to get appointed with either or both let me know and I can get you the information.

 

[dlvhi]

Graham,
That is the kind of answer I was looking for. I want to have this as an add on to my clients I sell DI too. I was thinking John Hancock so maybe Hancock and Genworth.

Thanks

I hope you don't me chiming in a little bit late.

I also tend to like Hancock and Genworth, but I compare pricing to several others.

For built-in features, Genworth Privileged Choice is the best that I have seen - no Elimination Period for home care, more flexibility on who the home care provider can be, no claims offset is used in computing the increase in benefits under the inflation rider. etc.

Having said that (and I hope I don't start an argument here) I must admit I got a bit nervous when the stock went under a dollar.

My personal opinion is that the cash option in MedAmerica is more than a niche market, it is pricier than reimbursement, but if the insured has a business and can deduct the premium, that bite isn't so bad.

I work with one particular immigrant group that really favors the cash benefits, for the flexibility and price advantage in paying for home care as well as for international benefits. If you are talking nursing home, the cash benefit doesn't seem to offer any advantage (but nobody wants to talk about nursing homes anyway.)

 

[VolAgent]

Just make sure that with John Hancock and Genworth you like selling rate increases as much as the policy itself.

 

[GonnaFlyNow]

Just make sure that with John Hancock and Genworth you like selling rate increases as much as the policy itself.

---quick someone hand me the barf bag.


Volagent, please enlighten us on the enormous rate increases that jh and gen have had.

 

[VolAgent]

---quick someone hand me the barf bag.


Volagent, please enlighten us on the enormous rate increases that jh and gen have had.

I guess double digit increases are of no consequence to you? You've admitted the price increases in previous threads, why your sudden amnesia?