Next Up........ Transamerica

[Arthur Rudnick]

Just received this notice...........

Subject: TMA - Transamerica LTC - IMPORTANT CHANGES TO BE AWARE OF

[FONT=Calibri","sans-serif]It is our understanding that Transamerica LTC is expected to announce this week the following changes to their individual Long Term Care product:[/FONT]

• A 15% increase in pricing
• Couples discount reduction from 30% to 15% (if only one person issued discount changed to 10% ) While the Couples preferred discount will remain at 10% the single preferred discount will be reduced to 10%
• Limited pay options will be suspended
• Unlimited benefit periods will be eliminated

[FONT=Calibri","sans-serif]Transamerica will begin filing changes with states this week with the anticipated state approval process completed sometime in September, 2012 and a 10-14 day anticipated timeframe to submit applications after state approval has been obtained. These changes are due to the current interest rate environment. Transamerica currently does not have a capacity issue and they want to monitor closely to avoid. Because there is not a current capacity issue it is our understanding that, at this time, Transamerica is not making any changes to their compensation. They will reserve the right however to adjust in the future if volume warrants.[/FONT]

 

[scagnt83]

No big surprise. Now its just "more of the same".... interesting times in the ltci industry.... im pretty sure I was called an *** on here about a year ago for predicting a chain of events in ltci very similar to this...

 

[Arthur Rudnick]

im pretty sure I was called an *** on here about a year ago for predicting a chain of events in ltci very similar to this...

no one called Nostradamus an ***, did they?

 

[VolAgent]

No big surprise. Now its just "more of the same".... interesting times in the ltci industry.... im pretty sure I was called an *** on here about a year ago for predicting a chain of events in ltci very similar to this...

I think everyone but our resident ltci gurus saw this coming.

 

[Justin Bilyj]

Iys so hard to sell ltci these days. I believe in the product, but I dont believe in the companies. I wonder if tye annuities with the ADL triggers is the way to go.

 

[scagnt83]

no one called Nostradamus an ***, did they?

I liken myself more to a modern day Socrates or maybe even Galileo ...

 

[Mr_Ed]

every one must stop selling LTCi.

(leave all the biz for me, bill, jack and arthur.)

 

[csalter]

Many on Bogleheads feel LTCi is a waste of money. They feel that one should self insure in some way. Their main contention is the increasing costs of poicies.

I think that if the NYL and NWM start raising their rates, we will really have need for concern.

 

[Mr_Ed]

Many on Bogleheads feel LTCi is a waste of money. They feel that one should self insure in some way. Their main contention is the increasing costs of poicies.

I think that if the NYL and NWM start raising their rates, we will really have need for concern.

most people don't know the facts about rate increases.

 

[billberry12]

(leave all the biz for me, bill, jack and arthur.)

I totally concur. Get out of this business while you can. This stuff can't be sold anymore. Give it up. ;0;0;0;0;0.

Bill