Don't pretend to be dumb, Jack. Why would an industry that is experiencing 20+% growth every year lower their prices? As long as sales continue to grow by double-digits every year they'll keep "re-pricing" their policies.
New sets of LTCI data reveal continued resistance to perceived expense
- Thread starter Brian Anderson
- Start date
Don't pretend to be dumb, Jack. Why would an industry that is experiencing 20+% growth every year lower their prices? As long as sales continue to grow by double-digits every year they'll keep "re-pricing" their policies.
This is not Logic 101.
You're right.
It's Business 101.
No business would lower their prices, or keep their prices the same, if they were experiencing double digit growth year after year.
Glad to know you are back on board, Scott
I suggest you begin a new career as a VCR salesman.
Oh, Jack. I thought you were classier than that.
LTC Partnerships are the future of LTC planning, not hybrids.
Partnership policies are just a joint marketing program between private insurance companies and the State Medicaid offices. There was a study done by CT that showed out of 50000 Partnership policies only 39 people received Medicaid benefits. People that purchase LTCi are high net worth to start with. $2 Million ++ in assets. These buyers are not interested in Medicaid planning. They are buying policies to be responsible to their families; to remain independent and to receive care at home or within private pay assisted living. Not sure why you feel State Partnership benefits within LTCI policies are a motivating factor to purchase coverage. Consumers are buying the insurance to avoid Medicaid not to ultimately apply for Medicaid. You have this all backwards, Scott.
I wasn't talking about people who have a 7-figure net worth.
I was talking about people with a net worth below 7 figures.
LTC Partnership policies are perfect for them.
And people with the 7-figure net worth are better off with traditional LTCi than hybrids.
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