Penn Treaty

Discussion in 'Long Term Care Insurance Forum' started by kstein, Apr 25, 2017.

  1. kstein
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    kstein Well-Known Member

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    If a person could replace similar benefits and similar premium with a different carrier, why wouldn't they switch LTC providers to MOO or someone like that. Biggest sacrifice would be 5% compound to 3%
     
  2. Arthur Rudnick
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    Arthur Rudnick Moderator Moderator

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    originally posted by kstein

    The biggest sacrifice is that Penn Treaty hasn't sold a policy in over 15 years and replacing it would probably cost 3-4 times what they're paying now, even with a 3% cmp.

    That's assuming the policyholder is still insurable.
     
  3. Mr_Ed
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    Mr_Ed Well-Known Member

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    actually the biggest sacrifice would be the IADL benefit trigger.
    Penn Treaty's best policy used an IADL trigger.
    Needing assistance with only 2 IADL's triggered the policy benefits.

    I read an interesting article about this subject at this link:

    https://www.ltcshop.com/2016/12/09/yugo-failed-long-term-care-insurance-dead/

    :yes:
     
  4. kstein
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    kstein Well-Known Member

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    Yes good point I forgot about that. I remember that being a unique selling point along with the non licensed hhc option
     
  5. CALTCAgent
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    CALTCAgent Well-Known Member

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    Penn Treaty also used to accept Parkinsons, at least beginning stages, among other ailments.
     
  6. Mr_Ed
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    Mr_Ed Well-Known Member

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    That was their "Secured Risk" policy. It was probably the only product they ever sold that was actuarially sound. Very limited benefits. Very high premiums.
     
  7. CALTCAgent
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    CALTCAgent Well-Known Member

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    Even on their comprehensive plans for a while. I remember seeing it but it had some stipulations where very few could be accepted.
     
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