MoO/UoO LTC Question
- Thread starter jmarkk1
- Start date
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- Tags
- long term care
- Thread starter
- #3
I'm only seeing that they offer 5 yr. rate guarantee on the Mutual Care Plus My Way 2012, and premium is like $40k/yr.
I've heard that they've not had rate guarantees offered on anything except a single pay or 10 pay policy. But now, they don't offer those options anymore.
I've heard that they've not had rate guarantees offered on anything except a single pay or 10 pay policy. But now, they don't offer those options anymore.
- Thread starter
- #5
I have ability to quote MoO, and this is the only product that has rate guarantee for 61 yr. old.
I'm just focusing on the rate guarantee issue. I have a client that swears she has a guaranteed rate on 3 yr old policy. I've checked around, and from what I've heard, MoO didn't have rate guarantees 3 yr back, but they did about 5 yrs back.
I'm just focusing on the rate guarantee issue. I have a client that swears she has a guaranteed rate on 3 yr old policy. I've checked around, and from what I've heard, MoO didn't have rate guarantees 3 yr back, but they did about 5 yrs back.
Why would anyone care or focus on a short term 5 year rate guarantee? It is really a meaningless benefit of no value whatsoever, used solely for marketing purposes. If a company wants to raise rates, it will have paperwork filed as soon as the click ticks on the 61st month. And the rate increase request will simply be 5-10% more than it would have been if the company could have raised rates in the 4th year.
Last edited:
jmarkk1 said:
I thought that TransAmerica still had a 5 and 10 year rate guarantee...
