Jh is guaranteed through life expectancy so at that age, probably late 70s.
It is a true LTC rider (7702b).
Hancock UL W/ LTCi Rider- Good/Bad?
- Thread starter Medigap Bill
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Jh is guaranteed through life expectancy so at that age, probably late 70s.
It is a true LTC rider (7702b).
so at age 80 she'll either have a huge increase in premium OR she'll have to cut her benefits big time or she'll lapse the policy and lose everything.
why would anyone want to buy a policy like that?
You asked guaranteed. That would assume that they max COIs and reduce the interest rate to the min the day she buys it.
Non-guaranteed goes 125ish...
The outcome is likely in the middle. The JH policy looks a lot better overfunded... but then you're in ACIV premium territory anyway.
BTW, I agree that for a couple, ACIV is a better solution if LTC is your primary objective (and you want a hybrid).
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It would be so much easier to really compare these plans with 2 illustrations and have all the numbers.
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Correct .
- 2,584
OK, if someone does the Hancock, I'll do the AC 4.
How much do all of us have the potential to make for running these illustrations?
It's a current assumption UL.
$4600 annual premium is too low to carry the policy. At age 87, internal rate of return on a $4600 premium for $1,000,000 db is 9.03%.
Policy funding will need to be much higher.
Need $11000 year premium at 5% IRR to fund $1,000,000 DB at age 87.
Pay now or pay much more later.
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