Survey Time

[Arthur Rudnick]

Some questions for those that specialize in LTCi:

1) What was your #1 carrier in 2011 and why?
2) How much of your total business is with Shared-Care policies?
3) How much of your total business is with Partnership Policies?
4) What expectations do you have for 2012?
a) Same as 2011
b) More than 2011
c) Less than 2011
And why?

 

[Mr_Ed]

Some questions for those that specialize in LTCi:

1) What was your #1 carrier in 2011 and why?

pretty even between gen and pru


2) How much of your total business is with Shared-Care policies?

about 25%.

3) How much of your total business is with Partnership Policies?

less than 25% in CA
about 50% in NY
about 75% in IN and CT.

about 90% in the DRA Partnership states.


4) What expectations do you have for 2012?

it will be my best year in terms of personal production and my team as a whole.

a) Same as 2011
b) More than 2011
c) Less than 2011


And why?


My system works.

 

[yankee466]

Some questions for those that specialize in LTCi:

1) What was your #1 carrier in 2011 and why?
Mutual/United of Omaha......best value/decent UW/A+

Genworth follows closely behind.

2) How much of your total business is with Shared-Care policies?

95% when a couple is involved.

3) How much of your total business is with Partnership Policies?

100%

4) What expectations do you have for 2012?


a) Same as 2011
b) More than 2011
c) Less than 2011
And why?

Like a fine wine......I get better with age.

 

[Arthur Rudnick]

Like a fine wine......I get better with age

Are you talking Ripple?

NADM:

What was your #1 carrier in 2011 and why?
pretty even between gen and pru

I know you're a fan of Genworth's Classic Select, do you use LTC3 or Evolution for Pru?

 

[Mr_Ed]

Are you talking Ripple?

NADM:


I know you're a fan of Genworth's Classic Select, do you use LTC3 or Evolution for Pru?

never sold an evolution policy. love the concept though.


nadm

 

[Casper]

Some questions for those that specialize in LTCi:

1) What was your #1 carrier in 2011 and why? Genworth followed up Mutual of Omaha. With the product change, many sales were "hurried" along plus for healthy couples, they have great rates/product
2) How much of your total business is with Shared-Care policies? Maybe 15%
3) How much of your total business is with Partnership Policies? 95% for DRA states. We were selling that inflation anyway, but it isn't a big selling point
4) What expectations do you have for 2012?
a) Same as 2011
b) More than 2011
c) Less than 2011
And why? Sales are improving. More clients / agents are becoming aware of the concerns of LTC. Plus even though I am not aging anymore, I get better with experience.

 

[Arthur Rudnick]

I should have given a little more thought to question #3:
"What % of your business is done with Partnership Policies?"

In NY there are 2 different types of policies:
Traditional & Partnership. Partnership policies are separate policies that include a contract (agreement) with the NYS Medicaid Office.

There are a number of differences between the terms and asset protection of the 4 original Partnership states (NY, CT, IN & CA) and the rest of the states that became Partnership Qualified, post 2005 (post the Deficit Reduction Act).

For all post-DRA Partnership policies, benefits must include certain inflation riders, which by itself makes good sense. So, if the inflation requirements are met, a Traditional LTC policy automatically becomes Partnership certified.

It would therefore make sense that most (100% & 95% as reported) would be Partnership policies. In NY less than 50% of all policies sold are Partnership Qualified.

 

[yankee466]

Are you talking Ripple?


More of a Boone's Farm man myself......but anything with a screw top will suffice in a pinch.

 

[ltcadviser]

Some questions for those that specialize in LTCi:

1) What was your #1 carrier in 2011 and why?

Genworth. Typically, Genworth Privileged Choice had best benefits and pricing for my clients. I almost always write 5% compound, and no "Claims Offset" language enhances potential benefits, especially on longer benefit periods with shared policy designs. Built-in Spousal Survivorship and 0 day HC EP also helped.

2) How much of your total business is with Shared-Care policies?

If clients are partnered, most of my business is shared or Unlimited---hence the Genworth business.

With current pricing, expect an even split between Genworth, Mutual of Omaha, and Mass Mutual in 2012.

3) How much of your total business is with Partnership Policies?

100% in DRA Partnership states

Small percentage in CA and NY

CT and IN TBD

4) What expectations do you have for 2012?
a) Same as 2011
b) More than 2011
c) Less than 2011
And why?

Undoubtedly more than 2011.
Probably significantly more.

Why?

Better processes in place.

 

[Arthur Rudnick]

Genworth. Typically, Genworth Privileged Choice had
best benefits and pricing for my clients. I almost always write 5% compound.
If clients are partnered, most of my business is shared
or Unlimited

Jack,
If you're writing 5% compound & unlimited on most of your clients, I have to assume that you have a high net-worth client base?