Massachusetts Mutual Sales Suspension

[ltcadviser]

I didn't say the policy was different. I said the National Guardian Life agent is a different agent than a Mass Mutual agent. My point was to illustrate to Scott that Mass Mutual could care less that Lifecare is a TPA for National Guardian Life.

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Assuming its a strong product, it will be sold to the normal LTCI demographic.

of course, but my point was only that NGL retaining Lifecare is irrelevant to Mass Mutual.
Mass Mutual will decide to be in or out of the LTCi market based upon what MM feels is in the best interest of MM. MM will not leave an arena because a shared TPA helps to bring a policy into the marketplace.

 

[scagnt83]

I didn't say the policy was different. I said the National Guardian Life agent is a different agent than a Mass Mutual agent. My point was to illustrate to Scott that Mass Mutual could care less that Lifecare is a TPA for National Guardian Life.

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of course, but my point was only that NGL retaining Lifecare is irrelevant to Mass Mutual.
Mass Mutual will decide to be in or out of the LTCi market based upon what MM feels is in the best interest of MM. MM will not leave an arena because a shared TPA helps to bring a policy into the marketplace.

I dont know enough about that type of relationship to comment on if the Lifecare issue played a part in Mass's decision. I know they made the decision based on what they felt was in their best interest. What the logic behind that reasoning was I couldnt tell you. Maybe they plan to go captive only because of the DOL ruling. You have to think about the investment side of the company, which is large. I realize they are all separate entities and all, but the agents are not. This could possibly be the first step in closing their doors to outside agents. Who the hell knows really. They lied to everyone about their intentions, honestly, I dont even think most of the Csuite at MM knows what the hell MM is doing right now... lol.


But you seemed to insinuate that NGL will not be a serious competitor to Mass. I was curious why, hence my original question.

So you think it will be a product that is competitive to MM just because it is Lifecare behind the scenes?

 

[Tothetop]

...but my point was only that NGL retaining Lifecare is irrelevant to Mass Mutual.
Mass Mutual will decide to be in or out of the LTCi market based upon what MM feels is in the best interest of MM. MM will not leave an arena because a shared TPA helps to bring a policy into the marketplace.

This...............

 

[ltcadviser]

But you seemed to insinuate that NGL will not be a serious competitor to Mass. I was curious why.
?

No, I did not. I do not view products as competitors, anyway. Products are commodities. Agents sell what agents want to or have to sell.

Mass Mutual agents will sell Mass Mutual. New York Life agents will sell NY Life. Northwestern Mutual agents will sell Northwestern Mutual. TIAA CREF will sell Pacific Life. USAA will sell John Hancock. Morgan Stanley will sell Lincoln Moneyguard. NGL will develop its own channels of distribution, however it will not impact whatsoever the aforementioned channels of distribution.

 

[scagnt83]

No, I did not. I do not view products as competitors, anyway. Products are commodities. Agents sell what agents want to or have to sell.

Mass Mutual agents will sell Mass Mutual. New York Life agents will sell NY Life. Northwestern Mutual agents will sell Northwestern Mutual. TIAA CREF will sell Pacific Life. USAA will sell John Hancock. Morgan Stanley will sell Lincoln Moneyguard. NGL will develop its own channels of distribution, however it will not impact whatsoever the aforementioned channels of distribution.

Agents dont see products as competitors, but carriers do. New products do not impact distribution, but they can impact sales.

My point is that most carriers do not have just one single source of distribution. NGL is not going to push this on FE agents to sell. That makes no sense unless its a crap product.

Look at what other carriers who work both demographics do. NGL will not be any different.

There is going to be a gap to fill in the distribution side of the LTCI market now that MM is going in-house only on LTCI. To think that NGL and others are not going to fill that gap is illogical. And to think that NGL is going to get Settlers Life FE agents to sell a high priced a LTCI product in the trailer parks is illogical as well.

 

[Arthur Rudnick]

The one thing that hasn't been addressed is that FE demographics & LTCi demographics are 2 very different animals.

FE prospects (and purchasers) are lower income. The color of their collar has nothing to do with it. Many survive only on SS.

Many are also in poor health and would never qualify for any medically underwritten product.

Premiums for a FE policy can be as low as $15-$20 a month. And, that is all many of these folks can afford.

So, if that's NGL's policyholder database and that's NGL's agents's database. These are not prospects for LTCi.

Spend a little time on the FE Forum and get an idea what that business is all about.

 

[scagnt83]

The one thing that hasn't been addressed is that FE demographics & LTCi demographics are 2 very different animals.

FE prospects (and purchasers) are lower income. The color of their collar has nothing to do with it. Many survive only on SS.

Many are also in poor health and would never qualify for any medically underwritten product.

Premiums for a FE policy can be as low as $15-$20 a month. And, that is all many of these folks can afford.

So, if that's NGL's policyholder database and that's NGL's agents's database. These are not prospects for LTCi.

Spend a little time on the FE Forum and get an idea what that business is all about.

Do you have me on ignore or something?? lol

I addressed it in the past few posts.

 

[Arthur Rudnick]

originally posted by scagnt83

Do you have me on ignore or something?? lol

I addressed it in the past few posts.

Hey Tyler,
I would NEVER ignore you.


Just expanding a little and sharing some premium information of FE purchasers.