Penn Treaty

kstein

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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%
 
originally posted by kstein

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%

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.
 
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%

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:
 
Yes good point I forgot about that. I remember that being a unique selling point along with the non licensed hhc option
 
Penn Treaty also used to accept Parkinsons, at least beginning stages, among other ailments.
 
Penn Treaty also used to accept Parkinsons, at least beginning stages, among other ailments.

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.
 
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.

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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