GenWorth VS John Hancock

[Arthur Rudnick]

Previously posted by ltcadviser

But we have rate stability regs now, remember?

 

[Mr_Ed]

Previously posted by ltcadviser

well... we do have rate stability regs now, in most states.
i can explain them to you but I can't make you understand them.

 

[CALTCAgent]

I guess with these rate stability regs, the rate stability of the partnership plans is less appealing ?

 

[ltcadviser]

In reality with the way lapse rates are it is probably a seldom used benefit. But I find it surprising how much people like the idea of the benefit when told about it. I usually dont put it on the first quote I show, but I often mention it as an option just to put it out there and see if they like the idea of it.

It doesnt seem to add too much to the monthly premium, usually around $20 from what Ive found.

I see it kind of like the Partnership status. Sure most people who can afford to buy LTCI will probably not need the Partnership status... but if the sh*t hits the fan for some reason in retirement it is a nice safety net to have. (its insurance on top of insurance)

People do not lapse coverage; and the benefit derived from non- forfeiture is so minuscule there is no reason to increase the premium.

 

[Mr_Ed]

I guess with these rate stability regs, the rate stability of the partnership plans is less appealing ?

that is correct.

 

[ltcadviser]

So, Genworth or John Hancock ???

 

[ltcadviser]

or mass or medam or moo or transam or nyl or nwm or thrivent or state life or lincoln nat'l or ....

it all depends upon health hx, goals, state of residence, marital status, etc...

it all depends.

Just trying to get back to the OP's question!

 

[CALTCAgent]

People do not lapse coverage; and the benefit derived from non- forfeiture is so minuscule there is no reason to increase the premium.

I agee with this message!

 

[Westcoastnative]

GEN 5K monthly benefit
5 year plan
30 days elimination
5% inflation compound
Premium for both $13,602

John Hancock 5K monthly benefit
6 year plan
30 day elimination
5% inflation compound
premium for both $9987.00

Doesn't GW offer a 40% discount for couples?

 

[ltcadviser]

Doesn't GW offer a 40% discount for couples?

What is your point? The OP's rates included couples pricing. Genworth PC Flex 3 now has very high rates for 5% compound.