MassMutual exiting LTC market by 1/28/2021

[Tothetop]

They are like aarp and NYLife or Merryll Lynch and Lincoln. Their hands are tied.

Don't be technical. They offer NYL ( the mold for MM's product) so they're still not offering their clients anything of quality.

 

[ltcadviser]

???

Two choices, Mass Mutual AND New York Life.

Not compelling products today by these two underwriters, but things do have a way of changing in the industry every few years.

With the current very low interest rate environment if current offerings by Nationwide and Securian get repriced much higher (such as Lincoln this year), the market could consolidate where MassMutual and NY Life are currently priced.

Time will tell.

 

[Allen Trent]

Fidelity advisors are not required to act as fiduciaries when they sell insurance products. Recommendations just need to meet low standard of suitability.

interesting & the Best Interest rule they are subject to for investments/securities doesnt even come into play because it doesnt extend to insurance. Sure makes some of the advertising seem a bit disingenuous, but I am sure it is spelled out in the small print somewhere

 

[marindependent]

wow

 

[ltcadviser]

The new NY Life Asset Flex policy looks good. It finally includes automatic 3% compound inflation protection. This will do very well.

 

[PhxSunsFan]

if a FLa female 56 wants an ltc plan,,, should she grab the signature 500 from MM before jan 28th??

 

[ltcadviser]

if a FLa female 56 wants an ltc plan,,, should she grab the signature 500 from MM before jan 28th??

Yes!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

[Newby]

Who is left in the Traditional LTC biz? I gave up when Met Life pulled out. So it's been a while.

 

[Tothetop]

The new NY Life Asset Flex policy looks good. It finally includes automatic 3% compound inflation protection. This will do very well.

:: Fast Forward to 2021:: "The new MM CareChoice One policy looks good. It finally includes automatic 3% compound inflation protection. This will do very well."

 

[ltcadviser]

Who is left in the Traditional LTC biz? I gave up when Met Life pulled out. So it's been a while.

Omaha, NGL, NYL, NWML, Trans, Bankers, Thrivent, FLTCIP, Genworth.