New MassMutual LTC

Feb 28, 2019

  1. Tothetop
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    Tothetop Super Genius

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    I waited for Carechoice One to make its way to NY, as we dont have many hybrid options, and when it came in 2017 I was so disappointed. Elimination period, single premium, and the age limits just didnt make sense.

    There "peculiar" inflation protection (or lack thereof) I kind of understood. It seemed they believed most people would use their benefits in their 80's so you can either get it all now (with no inflation protection) or get it later with inflation protection and continue to have your benefits increase as the policy ages.
     
  2. ltcadviser
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    ltcadviser Guru

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    High premium, low LTC benefit, Lack of inflation protection- Mass Mutual wins a free ride on your money. Zero risk. And then they turn the sales machine over to their in-house agents and Fidelity Investments.
     
  3. kpbdy99
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    kpbdy99 Expert

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    Just like NWM & NYL, they want to sell this to their high-net worth clients, so being competitive, price-wise, isnt a priority.
     
    kpbdy99, Apr 1, 2019
    #13
  4. ltcadviser
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    ltcadviser Guru

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    Price will never be a priority when insurance companies employ captive agents that are contracted to solely sell and market its insurance products.

    Employees will sell the policies they are told to sell at any price, or they will not stay employed or make any money.
     
  5. David Block
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    David Block Expert

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    It's nice to know that the plan is pricey (up to 75% higher) but are the benefits worth the additional cost? Is there anything 'special' about the plan or is it a cookie cutter approach? Do they pay cash benefits or is it reimbursement, etc., etc.? Regardless of distribution, the plan still needs to be viable. And remember, cost is only an issue in the absence of value. So the primary question to always ask, IMHO, is are the benefits and cost on a comparable level?
     
  6. Mr_Ed
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    Mr_Ed Guru

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    no
     
    Mr_Ed, Apr 9, 2019
    #16
  7. ltcadviser
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    ltcadviser Guru

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    Ughh... no.
     
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