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 Penn Treaty "Simple LTC Solution"
Author: Robyn 
Date:   02-14-05 09:33

Does anyone know anything about and have an opinion on this new product from Penn Treaty "Simple LTC Solution". If so, what do you think of this concept in general and this product in particular?

 
 Re: Penn Treaty "Simple LTC Solution"
Author: Arthur Rudnick 
Date:   02-14-05 13:17

I was unaware that their new policy was already on the market. Anyone familar with it and how does it differ from their existing policy?
Arthur

 
 Re: Penn Treaty "Simple LTC Solution"
Author: Robyn 
Date:   02-14-05 19:46

I know fairly little. It has a deductable instead of an elimination period. After the deductable, there is a 20% copay. This copay never goes away. The deductable is 30x's the daily benefit and the benefit maximum is something like 1200x's the daily benefit. The client only gets to choose the daily benefit amount and inflation protection. There are no other options.

In concept, it is very interesting. One thing that I don't like is that the benefit period works out to be slightly more than 4 years. I'm a believer in younger people having a lifetime benefit if possible.

Feedback would be greatly appreciated if anyone knows anything.

 
 Re: Penn Treaty "Simple LTC Solution"
Author: Larry Plite 
Date:   02-15-05 06:41

You don't want my feedback or opinion about anything concerning Penn Treaty. The concept does sound interesting though.

After dealing with American Travellers, Life & Health of America and Penn Treaty some time ago, I simply stay away from companies domiciled in Penn. Most Florida companies too for that matter.

I have a gut feeling, and it's just a gut feeling, that the NAIC will eventually step in and standardize LTCI. Any opinions?

 
 Re: Penn Treaty "Simple LTC Solution"
Author: Arthur Rudnick 
Date:   02-15-05 07:46

If that happens we might as well all be looking for other jobs.

 
 Re: Penn Treaty "Simple LTC Solution"
Author: Steve Eads, CLU 
Date:   02-15-05 08:56

It will happen ONLY when the CARRIERS decide it should. Who do you think owns the NAIC???

Steve Eads, CLU
www.LTCiPro.com

 
 Re: Penn Treaty "Simple LTC Solution"
Author: Larry Plite 
Date:   02-15-05 11:03

After all these years in this business; I never once considered the NAIC was influenced heavily by insurance companies but it makes sense now.

I like your thinking, Steve. I'm going to keep my eye on you.

 
 Re: Penn Treaty "Simple LTC Solution"
Author: phil 
Date:   02-16-05 11:11

did you lose on penn treaty? where are you located? phillip

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