JH LifeCare....

[scagnt83]

Ok, so Im sure some of you have heard about Hancocks new single premium LTC/LI combo called LifeCare.
Our local JH wholesaler has been talking about this for freaking ever!! Plus sending out umpteen emails a week.

Last week I sat in on a webinar he was doing on it.

Not a bad product at first glance. LFGs "money guard" product gets a little more bang for the buck, but since its on a UL platform as opposed to the WL platform of JH, it makes sense.

By the end of the webinar I thought, "hey, this is a pretty good product" "im sure it will find its way into my sales pipeline eventually".

Then comes the bomb! And it wasnt even offered by the JH rep. An agent asks if it coordinates with other LTC benefits...
IT DOES!!!!! WTF??

So because my employer was kind enough to provide me with a basic small benefit LTC policy, my LifeCare benefits that I have paid a lot of money for are reduced??
Give me a break! For a company as competitive as JH, that is just ridiculous. And that is a key aspect of this policy, especially when his whole presentation centered around comparing it to the competition... and they leave that out?


I can scratch that product off the list to worry about selling!!

 

[yankee466]

Ok, so Im sure some of you have heard about Hancocks new single premium LTC/LI combo called LifeCare.
Our local JH wholesaler has been talking about this for freaking ever!! Plus sending out umpteen emails a week.

Last week I sat in on a webinar he was doing on it.

Not a bad product at first glance. LFGs "money guard" product gets a little more bang for the buck, but since its on a UL platform as opposed to the WL platform of JH, it makes sense.

By the end of the webinar I thought, "hey, this is a pretty good product" "im sure it will find its way into my sales pipeline eventually".

Then comes the bomb! And it wasnt even offered by the JH rep. An agent asks if it coordinates with other LTC benefits...
IT DOES!!!!! WTF??

So because my employer was kind enough to provide me with a basic small benefit LTC policy, my LifeCare benefits that I have paid a lot of money for are reduced??
Give me a break! For a company as competitive as JH, that is just ridiculous. And that is a key aspect of this policy, especially when his whole presentation centered around comparing it to the competition... and they leave that out?


I can scratch that product off the list to worry about selling!!

Ok, I'll bite. This is a reimbursement product. are you saying you want it to reimburse you for something that another LTC policy,or maybe Medicare already reimbursed you for? Maybe you were thinking it is a cash plan and can get the money with no strings attached.

Not sure I understand your point. Most people who would purchase a LifeCare, or a MoneyGuard, or a TLC product would likely not also have a traditional ltc plan.

 

[R. Paul Aguirre]

Ok, I'll bite. This is a reimbursement product. are you saying you want it to reimburse you for something that another LTC policy,or maybe Medicare already reimbursed you for? Maybe you were thinking it is a cash plan and can get the money with no strings attached.

Not sure I understand your point. Most people who would purchase a LifeCare, or a MoneyGuard, or a TLC product would likely not also have a traditional ltc plan.

Agreed. I love John Hancocks Protection UL-G product with the LTC benefits option. I missed that webinar(my IMO's version) will have to see if they recorded it.

 

[yankee466]

Agreed. I love John Hancocks Protection UL-G product with the LTC benefits option. I missed that webinar(my IMO's version) will have to see if they recorded it.

On the JH life plans...since I have never really sold JH Life....is their LTC rider basically like an accelerated death benefit option, albeit it on a reimbursement basic, and not really a LTC add on like a true Linked benefits plan? I'll assume that makes it a rather cost effective way to get some LTC benefit, never to exceed the face value of the life policy.