John Hancock Custom Care 3

[Arthur Rudnick]

Welcome Trubi,
You're right.............

Let's follow this:
1) MetLife was in the Federal Program
2) MetLife dropped out of the Federal Program
3) MetLife is no more
4) Hancock is in the Federal Program
5)..............
6) .............

By following #1, #2 & #3, what could #4 & #5 possibly be?

There may be a pattern developing here.

"Hancock does still have a market. The slightly overweight that will come in standard with them, the 75+ single market and their captive agents"

I'll keep that in mind the next time I come across a fat 75+ year old single, who unfortunately, can no longer purchase a CPI to age 75.

 

[Mr_Ed]

Don't forget the big issue with Hancock. They now have the entire Federal Program. Remember Met dropped out & Hancock was overjoyed to have 100% of that block???? All of that business, which was under priced was dumped into them & they need to reserve for all of it together with their regular business. Hancock does still have a market. The slightly overweight that will come in standard with them, the 75+ single market and their captive agents

I am pretty sure that the necessary reserves are accounted for according to each policy series--not all lumped together.

 

[Trubi]

I'm sorry, I should have been clearer. Yes, I do believe the reserves are kept in separate funds,but the point is now they have to reserve all new federal LTC business, in addition to their regular business.

 

[Mr_Ed]

I'm sorry, I should have been clearer. Yes, I do believe the reserves are kept in separate funds,but the point is now they have to reserve all new federal LTC business, in addition to their regular business.

I suspect that they'll use the premiums from the FLTCIP to reserve for the FLTCIP. They didn't offer the FLTCIP for free.