State Farm LTC Info?

[Mr_Ed]

Other than GE and JH, would you list some?

I don't understand your question.

Are you saying the Gen and JH policies include your items 1 through 3

or

Gen and JH policies do not include your items 1 through 3.

 

[bluemarlin08]

GE includes these, JH includes some as riders. I have never seen any company that includes all three other than GE. One must read the sample policies very closely to determine these benefits. It would be great if there are other carriers that do offer these, I'm just not aware. BTW, SF does not offer any of these, that would be a deal killer for me.

 

[Mr_Ed]

GE includes these, JH includes some as riders. I have never seen any company that includes all three other than GE. One must read the sample policies very closely to determine these benefits. It would be great if there are other carriers that do offer these, I'm just not aware. BTW, SF does not offer any of these, that would be a deal killer for me.

Below is a partial list of some of the policies available in TN which offer the items 1 through 3 which you listed in a prior post. I will list them alphabetically so as to avoid the appearance of any favoritism on my part:


Assurity
Berkshire Life
CUNA
Genworth Life Ins. Co.
John Hancock
Mass Mutual
Met Life
Mutual of Omaha
Prudential
Transamerica
United of Omaha


I'm sure there are others, but these are the ones that come to mind right away.

 

[scagnt83]

Comdex is not a rating.
.

Comdex is a rating from 1-100 based on a composite of what ALL ratings companies have rated a carrier.
Since they all use different scales it takes a consensus and lessens the confusion. Its much more accurate than a single rating from one company.
Not all A ratings are created equal.

When I explain this to a client they always want to know Comdex over a single rating from the big 4.

 

[bluemarlin08]

Thanks, will check on this.

 

[scagnt83]

- - - - - - - - - - - - - - - - - -
no offense, bluemarlin, but this line "LTC is a contract that shouldn't be bought on price" is just pure baloney.

The policies are more alike than they are different. In fact, it's rare that there are any significant differences other than underwriting and premium.

Underwriting and premium calculations are crucial. But not how you are viewing them.

GE is a perfect example. They started out with looser underwriting and lower rates. They figured a much higher lapse rate and a much lower claims rate than they have actually received.
This has put their LTC book underwater. It has unofficially been on the market for a buyer for years now, and there hasnt even been a nibble because the underwriting and price structure was so poor. Not the kind of book of business I want my policy to be a part of.

Plus, if one company is offering the exact same benefits as another (in the low lapse high claim world of LTC), what do you think the premium increases will be like in the future.
If you want a more level premium (and happy clients) go with a better quality carrier.

JH has not had as big of rate increases percentage wise as most others historically.

I would agree with bluemarlin 100%

 

[Mr_Ed]

Underwriting and premium calculations are crucial. But not how you are viewing them.

GE is a perfect example. They started out with looser underwriting and lower rates. They figured a much higher lapse rate and a much lower claims rate than they have actually received.
This has put their LTC book underwater. It has unofficially been on the market for a buyer for years now, and there hasnt even been a nibble because the underwriting and price structure was so poor. Not the kind of book of business I want my policy to be a part of.

Plus, if one company is offering the exact same benefits as another (in the low lapse high claim world of LTC), what do you think the premium increases will be like in the future.
If you want a more level premium (and happy clients) go with a better quality carrier.

JH has not had as big of rate increases percentage wise as most others historically.

I would agree with bluemarlin 100%

There's no way you can agree with bluemarlin 100% because he loves Genworth and you don't.

There's so much baloney in your post, I really don't have the time to reply to it. I'm pretty sure I wrote a post awhile ago explaining why higher priced policies do not imply more stable rates. If you go through my post history you'll be able to find it.

The bottom line is that you don't understand how LTCi policies are priced to draw the conclusions which you draw. All you've done is figure out a way to justify paying a higher premium. (Just search through my posts. You'll find the one I'm talking about regarding premiums and rate stability.)

And by the way, (this is for you and bluemarlin) the company was called GE Capital Assurance pre-2004. They changed their name to Genworth about 7 years ago. There are no long term care insurers named "GE" anymore.

 

[bluemarlin08]

So sorry, old habits die hard. Of course I assumed you knew I was talking about Genworth. BTW, I'm not sure love is the proper adjective, I do endorse GE oops I mean Genworth, and will continue to use them as my carrier of choice in most cases.

 

[Mr_Ed]

So sorry, old habits die hard. Of course I assumed you knew I was talking about Genworth. BTW, I'm not sure love is the proper adjective, I do endorse GE oops I mean Genworth, and will continue to use them as my carrier of choice in most cases.

I'll be happy to help you kick the habit. Although, it's been 7 years now. I'm not sure if anything can break you of the habit by now. But, I'll be happy to start a support group or something.

;-)

 

[bluemarlin08]

One day at a time! Leaving Thursday for rehab in the Keys, intense fishing and adult beverages. Maybe that will turn me around. "The weather is here wish you were beautiful."