JH Group Vs. Individual

CALTCAgent

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I am up against John Hancock Group for a 49 year old male.

Any competitive advantages I have with individual LTC versus Group with Hancock?

You can e-mail if you prefer

Thanks!
 
I am up against John Hancock Group for a 49 year old male.

Any competitive advantages I have with individual LTC versus Group with Hancock?

You can e-mail if you prefer

Thanks!

Group can be tough to beat cost-wise for a single person.

What you have with Group in your favor is:

1.Lack of partnership
2.Lack of preferred health discounts (if applicable)
3. Lack of choice of features/options
4. Most group plans reduce the HHC by a %
5. Since it is a JH plan, you may be able to talk about lack of cash alternatives, informal home care, etc. You could sell them on the power of cash with MedAmerica, etc.....

However, fighting against group, for example the Fed plan, for a single person can be tough due to low cost. But when you have a healthy couple, the Fed plan is not a good value. You may have the same thing here. So, don't fight it on cost....fight it on value, and good luck.
 
If Hancock raised their group plan rates anywhere close to what they raised their individual plan rates then cost may very well be an issue.

What you need to do is get your prospect to let you see the actual offering that is available to him from the group. You can then do an apples-to-apples benefit & premium comparison.

Many people looking at groups really don't have any idea that there are differences between policies & carriers. They're offered a group plan at work and think that their company did the appropriate due dilligence and this plan must be a good deal. In many situations, the company looked at only one company because that's what the agent showed them.

Most people who have purchased a group policy never had the opportunity to look at other policies and compare.

Let us know how this turned out.
 
Thanks guys!

I do have access to the online quotes.
 
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