Mga

[wc2624]

Considerably higher premiums? Huh? What? Mass Mutual's premiums are not comparable with the rest of the street today? Go run rates in Florida. And then go read the Personal Worksheet disclosure of rate increase history for every policy series available in Florida. Then get back to me.

My statement was not over stated. Far from it.

It is important to look after your client's best interest. There is no reason to not write Mass Mutual right now. For couples MM's rates are the same or better than Omaha Genworth Transamerica etc. For women, of course, MM's rates are better than every single carrier except possibly MedAmerica. And we know the ratings comparison there.

I didn't realize the OP was limited to Florida. In that case you are correct.

Typically not the case across the country. For couples, rates are routinely going to be higher. Shared benefits forget about. For Females MM may work, particularly with a couples discount with the SO or husband not applying. It works in certain circumstances.

They are not typically the go to.

 

[yankee466]

They are not typically the go to.

That's odd.........I have always had great luck with single females.....even when it comes to LTC policies!!!!!

MM rates are very good for them....and they are a large percentage of the LTC purchasing public.

 

[ltcadviser]

I didn't realize the OP was limited to Florida. In that case you are correct.

Typically not the case across the country. For couples, rates are routinely going to be higher. Shared benefits forget about. For Females MM may work, particularly with a couples discount with the SO or husband not applying. It works in certain circumstances.

They are not typically the go to.

I will state this as nicely as I can.

You are just absolutely incorrect.

Throughout the entire country MM's cost of insurance is highly competitive right now.

Mentioning shared coverage is just confusing the point as MM sells a 3rd pool of money, not 2 pools and it sells 6 year individual policies for the same premium as 3 years each with a 3rd 3 year pool. So, no one will buy shared coverage with MM; they will just buy 6 years each. And if you compare MM's rates for 6 years each with every company you will see MM is stellar in an apples to apples basis.

Bottom line is Mass is a superior rated company with awesome rates today. The OP is in South Florida which has high end clientele that believes in buying strong financials. I advised him to make sure he has Mass because it will only HELP him today.

You may not care about financials or helping your clients best achieve their objectives.

Personally, I could care less what you think.

My advice was for the OP and it is proper advice. I was hoping to help the OP have the proper solutions for his clients instead of signing up with an MGA that has limited carriers and the OP loses business cos he is playing with a half deck.

 

[scagnt83]

Id have to agree that MM is very competitive right now. Take into account the ratings and especially the premium stability and it becomes an easy sell.

 

[Charlie456]

I'm certainly very glad MM is still offering LTCi and has a competitive product, especially since they are such a strong company. That being said, I certainly wouldn't be surprised if they request a rate increase in the future. Berkshire Life filed for a rate increase recently and their product was designed by the same folks who designed the old MM product. I think it's safer to tell my clients that they should expect an increase or two over the years and explain how that process works... They're really not shocked by that and I know that if/when the dreaded rate increases come my clients won't feel duped.

 

[ltcadviser]

That being said, I certainly wouldn't be surprised if they request a rate increase in the future. Berkshire Life filed for a rate increase recently and their product was designed by the same folks who designed the old MM product.

I think MM and NWML will continue to be stable.

 

[Charlie456]

I think MM and NWML will continue to be stable.

I hope so... And I agree, if anyone can do, they can. But I must admit I was surprised when BL asked for the increase. They were very tough with UW, priced high and when a spouse dies the surviving spouse gets repriced (losing that couples discount). I felt like they were really doing a good job of limiting their risk. I

 

[ltcadviser]

I hope so... And I agree, if anyone can do, they can. But I must admit I was surprised when BL asked for the increase. They were very tough with UW, priced high and when a spouse dies the surviving spouse gets repriced (losing that couples discount). I felt like they were really doing a good job of limiting their risk. I

One could argue that once a company ceases to market new policies (Guardian), it does not really have a vested interest in keeping its rates stable.

 

[Charlie456]

One could argue that once a company ceases to market new policies (Guardian), it does not really have a vested interest in keeping its rates stable.

I agree completely. We don't need to argue...