How bout calling my Mom every Thanksgiving at renewal instead and making her payment for her.
One America Inflation
- Thread starter bluemarlin08
- Start date
I told you it was b.s.
If she had taken the landing spot and decreased her IB to 3-ish% she would have had little or no increase.
You are so full of crap lol. She bought 5% compound. Not 3% compound. So with your way of logic its ok for John Hancock to change my mom's plan to 3% growth. Not what she bought Scott. 3% is 50% co-insurance. Landing spot is LTC insurance speak for "stick em up!"
- Thread starter
- #14
- 1,926
The more I review the one america product, the more questions. Have a client that is considering putting 150,000 in Hybrid life product, 4% inflation 4500 monthly benefit age 56 and 55. If they buy a NGL lifetime plan annual premium is 5600. Using the earnings on the 150,000 to pay the premium, if one goes on claim in 25 years and claim lasts 3years, costs - 0. One America cost is 300,000. Why choose the One America plan?
NGL has 4% compound inflation?
What do you project premium increases to be over 30 years with NGL?
What is the single premium number with NGL if you actually equalize the LTC benefits?
- Thread starter
- #16
- 1,926
The illustration was run at 3%, premium will be some higher using 5%. Still, that is over a 300,000 swing, that certainly could cover a ton of rate increases. The hybrid plans are practical for some folks it appears, but very healthy folks, especially younger ones will pay an awful lot for these policies.
I just ran both an NGL and OA single pay for a couple $4500 month, Lifetime BP, 3 % growth; NGL was $145,000 OneAmerica was $122000
- Thread starter
- #18
- 1,926
Why wouldn't someone chose the NG policy and avoid those potential additional care costs?
People might want to pay $23000 less and receive $112,500 back if care is not needed.
- Thread starter
- #20
- 1,926
So I suppose the decision is do you want to save 23,000 upfront assuming no claims. Or pay an extra 23,000 to avoid a potential additional cost of 100,000 plus additional charge if one has a claim exceeding 2 years in 25 plus years. I would choose to pay annually and use the earnings on the proposed lumps sum. Do you think most agents inform a client of all their options? How much commission does NG pay on lumps sum above the annual premium?
