State Farm LTC Info?

[scagnt83]

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.

God people love to argue semantics around here

You knew what I meant by "I agree 100% w/ bluemarlin".
No Im not a fan of genworth, but his statement that "theres more than just price to consider" I do agree with, which was the point he was trying to make.

And yes, GE is Genworth and has been for some time. Many agents still refer to them as GE out of instinct, as bluemarlin and I both did.


Ive seen the rate increases from the lower priced companies, and have spoken to many clients and prospects that hate their once cheap policy because its now out of their budget.

Im young enough that I will still be in business when my clients use their LTC or when the rates start to jump out of their budget.
So its certainly something I consider for not only the client, but for the future of my business.
If I wanted to sell the highest priced product I would use Mass, NYL, or better yet NWM. But I dont! I find the best value with the most stability.
I dont "find excuses" just to sell a higher premium!!!!!!


But I will search your posts later and read your take on premiums and rate stability when I get a chance. But for now we will just have to agree to disagree.

 

[Mr_Ed]

scagent,

I found the post:

Best LTC Companies



The heart of the argument is in the last paragraph. It states:

"...to demonstrate my point about these "other factors" which contribute to the actual LTCi premiums, two of the leading mutuals mentioned in this thread use the exact same actuary and TPA to develop, underwrite, and service their LTCi products. Those 2 products, in some cases, vary in premium by as much as 30%. The actuarial data is the same. The underwriting is identical. Yet there are significant premium differences."

 

[CALTCAgent]

I agree with scagent about people arguing semantics here. Whatever semantics means. If it means not being strightforward, I agree to that!