Mass Mutual LTCI Pulled from Brokerages

Jun 22, 2016

  1. L5tc
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    L5tc Super Genius

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    Just received the email.
     
    L5tc, Jun 22, 2016
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  2. Mr_Ed
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    no biggie.
    there are better products available.
     
    Mr_Ed, Jun 22, 2016
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  3. Brian F 11
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    What products are better?

    Sent from my iPhone using InsForums
     
  4. Mr_Ed
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    national guardian
    mutual of omaha
    state life
     
    Mr_Ed, Jun 22, 2016
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  5. Hopwood04
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    In my opinion John Hancock has the best plan because they are the only company that has addressed the rate increase issue. Have you looked at the flex credit strategy they are using? It is kind of like a Universal Life product in a way.
     
  6. L5tc
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    L5tc Super Genius

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    Guess in NY for indie brokers we have MOO, Genworth and Hancock.

    I used to do a dance to sell Genworth in NY because it was a great value here. No more and no more dancing.
     
    L5tc, Jun 22, 2016
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  7. Mr_Ed
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    How has the JH product addressed the rate increase issue?
    Their 3% inflation benefit is illustrated as having a rate increase EVERY YEAR for at least the first 15 to 20 years.
     
    Mr_Ed, Jun 22, 2016
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  8. ltcadviser
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    ltcadviser Guru

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    Wow. Just Wow. SMH.

    ----------

    Well, Scott I will respectfully disagree with you. There may be "different" product available, but if a traditional LTC policy is desired as currently priced the Mass Mutual policy is on a real short list if applicants are healthy enough to get approved. My Mount Rushmore of current policies are Lincoln Moneyguard, State Life Asset Care, Mutual of Omaha Custom Solution, and Mass Mutual Signature Care.

    I will not let this news affect my business nor my recommendations. I intend to still recommend the current Mass Mutual policy to everyone where I feel it is their best option.
     
  9. Mr_Ed
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    healthy single females.
    that's about it.
     
    Mr_Ed, Jun 22, 2016
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  10. ltcadviser
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    ......And also healthy couples, either one male/one female or 2 females. But that's about it....

    And (if price is your only factor) even single male applicants that might not be a fit for current price leader Mutual of Omaha for whatever reason, such as underwriting, $10,000 issue limits or whatever.

    But that's about it....

    Until Mass Mutual changes its current pricing, there is no downside to this policy option for consumers today. That's just the facts.

    Whether or not we can sell it does not change its value proposition one iota.
     
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