John Hancock Increases Long Term Care Rates by 90%

Discussion in 'Long Term Care Insurance Forum' started by tlmarketing, Mar 19, 2012.

  1. tlmarketing
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    tlmarketing Well-Known Member

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    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.
     
    Last edited: Mar 20, 2012
  2. Mr_Ed
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    Mr_Ed Well-Known Member

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    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.”
     
  3. bluemarlin08
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    bluemarlin08 Well-Known Member

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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.
     
  4. tlmarketing
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    tlmarketing Well-Known Member

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    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.
    - - - - - - - - - - - - - - - - - -
    Ain't that the truth!!
     
    Last edited: Mar 20, 2012
  5. somarco
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    somarco Well-Known Member

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    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?
     
  6. tlmarketing
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    tlmarketing Well-Known Member

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    And your point would be what exactly?
     
  7. somarco
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    somarco Well-Known Member

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    Apparently you are having as much difficulty understanding the question as you are in grasping the rating process for LTCi.
     
  8. tlmarketing
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    tlmarketing Well-Known Member

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    Wow, 15,100 posts but nothing to say....
     
  9. Guest
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    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.
     
  10. billberry12
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    billberry12 Well-Known Member

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