John Hancock Increases Long Term Care Rates by 90%

[tlmarketing]

no they can't, nor will they.

Interesting.....Here's what John Hancock had to say about increasing their premiums in the future:

"Our decision to increase premiums on certain policies is solely related to the future claims anticipated on these policies"...as well as "As a reminder, premium rates are not guaranteed, and could be increased again in the future."

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?

I can answer your question......the answer is YES!!!! Oh wait a second, maybe it's NO!!
I'll need to ask more questions before I can answer this question.

 

[Mr_Ed]

And in defense of the size of premium increases Hancock says: “Our belief is that offering a substantial rate increase, rather than spreading out smaller increases, is better for consumers because it enables the company to offer alternatives to mitigate or eliminate the increase.”

 

[bluemarlin08]

Maybe it will work for them, maybe it won't, I don't believe anything that comes out the mouth of a home office spokesman. You will never see the real picture, IMO.

 

[tlmarketing]

And in defense of the size of premium increases Hancock says: “Our belief is that offering a substantial rate increase, rather than spreading out smaller increases, is better for consumers because it enables the company to offer alternatives to mitigate or eliminate the increase.”

Those alternatives are GREAT.....

1. Such as reducing compound inflation rider from 5% to 2.7%...even if John Hancock's own information website shows costs increasing 3.5% per year? jhinfocenter.com

2. How about canceling the ltc policy and receiving a Nonforfeiture Benefit equal to your premiums paid? That will get you a couple of months tops of benefits.....

3. Or the catchall.....
Reduce your daily benefit..
Reduce your benefit period..
Increase your elimination period..

The answer to your question mr ed....is that your question is irrelevant...In the real world, consumers bought ltc policies in good faith and they have been rewarded with policies that are sh**...

The concept of LTC is great....the reality is much different.
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Maybe it will work for them, maybe it won't, I don't believe anything that comes out the mouth of a home office spokesman. You will never see the real picture, IMO.

Ain't that the truth!!

 

[somarco]

Question for TL marketing.

I notice you have a lot of input on LTCi, including 4 threads you have started about LTCi. But you (by your own admission) do not sell LTCi yet seem to have an opinion on everything that is wrong with LTCi.

What products do you sell and have you mastered any of them?

 

[tlmarketing]

Question for TL marketing.

I notice you have a lot of input on LTCi, including 4 threads you have started about LTCi. But you (by your own admission) do not sell LTCi yet seem to have an opinion on everything that is wrong with LTCi.

If you read my threads/posts, they mainly center around JH...otherwise I am not too active in ltc thread

What products do you sell and have you mastered any of them?

And your point would be what exactly?

 

[somarco]

And your point would be what exactly?

Apparently you are having as much difficulty understanding the question as you are in grasping the rating process for LTCi.

 

[tlmarketing]

Apparently you are having as much difficulty understanding the question as you are in grasping the rating process for LTCi.

Wow, 15,100 posts but nothing to say....

 

[Guest]

Question for TL marketing.

I notice you have a lot of input on LTCi, including 4 threads you have started about LTCi. But you (by your own admission) do not sell LTCi yet seem to have an opinion on everything that is wrong with LTCi.

What products do you sell and have you mastered any of them?

That's typical of this venue. Don't slam the message, slam the messenger.

Where is it written that you have to actually sell something to be highly knowledgeable about it? I don't sell equities but I have a lifetime of knowledge on how the markets work (or don't work!)

TL does not have to justify his opinion or posting any more than someone like somarco does.

Bob, if you want to tear TL's post to shreds fine, but where do you come off casting aspersions on his integrity? I read your blog and you post about as much "silly stuff" as anyone here... and yet I don't see anyone casting aspersions on YOUR integrity. So why do it to TL? Indeed, what do YOU know about LTC? What is YOUR experience level with the product? Personally, I don't care, but why not hold yourself up to the same standard you are holding TL up to?

This is just another case that shows there are guys who are not here to educate, but are here to castigate.

 

[billberry12]

LTCI envy mayby?????