John Hancock Increases Long Term Care Rates by 90%

tlmarketing,

you posted to a consumer who visited this board yesterday to expect a 60% to 90% premium increase on the policy he is planning on purchasing soon.

that is an outlandish, ignorant, and irresponsible statement.

It's not outlandish, ignorant or irresponsible.....a 90% rate increase is what John Hancock actually imposed on certain PA LTC cases.....consumers have the right to know that the LTC industry pricing has been irresponsible, ignorant and outlandish..


i've sent you a private message and also publicly asked you to give one reason why he should expect a 60% to 90% increase on his premium. you haven't answered.

You never sent a private message to me, but I'll answer here....Why should he expect a 60-90% increase.....because that is exactly what just happened in PA for John Hancock LTC cases in various classes....Consumers should know that they may get nailed by huge price increases in the future.


I am asking you again:

Why do you think a policy purchased today is likely to have a 60% to 90% premium increase? please give one reason why he can expect a 60% to 90% increase in his premium.

John Hancock Long Term Care has been absolutely wrong with their assumptions in pricing, morbidity, etc...and as some ltc experts on this forum have posted, the industry is still new, not a lot of history on morbidity,etc....so why wouldnt a consumer expect to see these types of increases again.


If you can't give one good reason, then delete your post.


Originally Posted by tlmarketing
Make sure you factor big premium increases into your budget for the future....60-90% maybe a good reference point for increases.

LTC sounds like such a good idea until you are a consumer who has experienced a 60-90% rate increase...
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Nope, I don't sell LTCi.

Just offering an INFORMED contribution not one based on ignorance or emotion.

I just offered information based on FACTUAL information about 60-90% rate increases


Perhaps this business isn't for you.
You're right, it's not for me.....and I'm happy to say that I have never sold an LTC policy and Never will.
 
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Originally Posted by Mr_Ed

tlmarketing,

you posted to a consumer who visited this board yesterday to expect a 60% to 90% premium increase on the policy he is planning on purchasing soon.

that is an outlandish, ignorant, and irresponsible statement.

It's not outlandish, ignorant or irresponsible.....a 90% rate increase is what John Hancock actually imposed on certain PA LTC cases.....consumers have the right to know that the LTC industry pricing has been irresponsible, ignorant and outlandish..


i've sent you a private message and also publicly asked you to give one reason why he should expect a 60% to 90% increase on his premium. you haven't answered.

You never sent a private message to me, but I'll answer here....Why should he expect a 60-90% increase.....because that is exactly what just happened in PA for John Hancock LTC cases in various classes....Consumers should know that they may get nailed by huge price increases in the future.


I am asking you again:

Why do you think a policy purchased today is likely to have a 60% to 90% premium increase? please give one reason why he can expect a 60% to 90% increase in his premium.

John Hancock Long Term Care has been absolutely wrong with their assumptions in pricing, morbidity, etc...and as some ltc experts on this forum have posted, the industry is still new, not a lot of history on morbidity,etc....so why wouldnt a consumer expect to see these types of increases again.


If you can't give one good reason, then delete your post.


Originally Posted by tlmarketing
Make sure you factor big premium increases into your budget for the future....60-90% maybe a good reference point for increases.
LTC sounds like such a good idea until you are a consumer who has experienced a 60-90% rate increase...
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Originally Posted by somarco
Nope, I don't sell LTCi.

Just offering an INFORMED contribution not one based on ignorance or emotion.

I just offered information based on FACTUAL information about 60-90% rate increases


Perhaps this business isn't for you.
You're right, it's not for me.....and I'm happy to say that I have never sold an LTC policy and Never will.


tlmarketing,

it's obvious that you've never sold an LTCi policy because you don't know even the most basic thing about them.

you still didn't answer the question.

why should someone who buys an LTCi policy today expect a 60% to 90% premium increase? You said it was likely... why is it likely?
 
tlmarketing,

it's obvious that you've never sold an LTCi policy because you don't know even the most basic thing about them.

you still didn't answer the question.

why should someone who buys an LTCi policy today expect a 60% to 90% premium increase? You said it was likely... why is it likely?

learn to read mr ed.....the answer you seek has already been answered.

thanks for your pm...***.


Mr_Ed
Guru

Join Date: Nov 2008
Posts:849
State:
there is enough ignorance in this world. Go to Top
tlm,
there is enough ignorance in this world. we don't need you to add to it by you making ludicrous and absurd statements on the internet that will do nothing but harm consumers. please refrain from posting on topics about which you know nothing.

The only statements I make are based on actual information...
 
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why should someone who buys an LTCi policy today expect a 60% to 90% premium increase?

Because it is currently happening to policyholders. What do you tell clients about the potential for future rate increases and what % should they budget?
 
Does a new long-term care insurance policy purchased in 2012 cost the same that a new long-term care insurance policy cost in 2002?



the_talking_horse

How does that prevent future rate increases? Most products have different prices in 2012 than they did in 2002. Does that mean there won't be any more price increases for everything?
 
Does a new long-term care insurance policy purchased in 2012 cost the same that a new long-term care insurance policy cost in 2002?



the_talking_horse

Mr. Ed - Quit sending me PM's...If you have something to say, put it in the public forum for discussion, thx
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Does a new long-term care insurance policy purchased in 2012 cost the same that a new long-term care insurance policy cost in 2002?



the_talking_horse

I would be more inclined to as questions such as:

If a long term care company such as John Hancock increases their rates by 90% today based on "future claims anticipated"....do they subsequently issue refunds to consumers if actual claims end up being less than anticipated?

How many people have to buy this policy today in my policy class in order for the insurance company to support its current pricing?

What happens if not enough people in my policy class buy ltc from john hancock? Do premiums go up or down?
 
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It's a very simple question:

Does a new long-term care insurance policy purchased in 2012 cost the same that a new long-term care insurance policy cost in 2002?
 
Or you may want to ask:

If John Hancock raises my long term care rates 90% this year, can they raise my long term care rates again next year?
 
Or you may want to ask:

If John Hancock raises my long term care rates 90% this year, can they raise my long term care rates again next year?

no they can't, nor will they.

can you answer my question:

Does a new long-term care insurance policy purchased in 2012 cost the same that a new long-term care insurance policy cost in 2002?
 
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