John Hancock Rate and Product Changes

[Graham]

For those that have not yet seen or heard this...

"Throughout the spring and summer, John Hancock will be implementing a number of changes to their individual LTC insurance product portfolio in response to the challenging economic environment and trends. John Hancock is committed to LTC insurance and to ensuring that our products meet the needs of our distributors and clients today and in the long-term. Click below for an outline of the changes including administrative details."

https://www.jhltc.com/uploadedFiles...718AdvanceNoticeProductAnnouncement043010.pdf

 

[dgoldenz]

32%....ouch

 

[CFP83]

I've done some LTC business with JH and, like many stock companies, with this rate increase they are saying to policy-holders, "when we screw up in risk analysis and making investment decisions you will pay for it".

I am seriously very close to only offering LTC from solid mutual companies and calling it a day.