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Archive of Past Discussion Board
Please Note: Posting Functions for this Board will no longer function!
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Author: Graham
Date: 11-16-04 14:07
I am trying to identify companies that have failed or left the LTCI market in hopes of learning from their mistakes and identifying what would make a successfull LTCI company. I have a few names from some other posts on this site and other research including; Aegon, CNA, Fortis and Mutual Protective Insurance. Anyone know of any others that have either sold their business or left the LTCI market. Any info. would be appreciated.
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Author: Sally Lennox
Date: 01-12-05 12:06
I am a holder of a Fortis long term policy. Should I be concerned because, as I understand, policy holders are being served by John Hancock? Should I contact the company to rethink my coverage?
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Author: Arthur Rudnick, LTCP
Date: 01-12-05 13:03
Sally;
Fortis is a fine policy and was a wholly owned subsidiary of John Hancock for many years. In fact, from the begining, although you have a Fortis policy, it was always administered by John Hancock.
There is no reason for you to be concerned.
Arthur
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Author: Josh Fink
Date: 01-12-05 22:24
Graham,
You pretty much hit all the companies. Something to look at is amount of time in the LTC section and amount of assets. Also price, quality, and service, just remeber you cant get all three.
Josh
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Author: Arthur Rudnick, LTCP
Date: 01-13-05 09:16
Graham;
Travelers left the LTC business in 1999 and sold their block of business to GE Capital.
GE Capital left the business last year and spun off their entire insurance and mortgage business into Genworth Financial.
Conseco was another company that exited the LTC market, so was American Progressive.
I'm sure that they are dozens of other companies that have left the business as well.
Don't lose sight of the fact that the LTC industry is a relatively new business. Although LTCI ha been around for 30 years, if I had to guess, 90% of all policies have been sold in the past 10 years. As with all new industries, you will always find companies leaving the market, companies entering the market and a number of companies consolidating. That's the nature of any business. The big get bigger and the weak get out.
I strongly disagree with Josh's statement that you cannot get service, price and quality from any one company. If you feel that's the case Josh, then maybe you're representing the wrong carriers.
Arthur
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Author: KRISTA SIBLEY
Date: 03-18-05 04:26
Have you looked at Banker's Life & Casaulty? We have been in the business for 20 years. You will find that our policies standard features are ones that you will pay extra for with other companies (ex: Restoration of benefits, home modifications, and caregiver training). We are a bit old-fashioned, though. We go out to the customer's home and come up with a custom plan that truly fits each customer. Your agent will sit down with each year to review your policy to make sure it still fits your needs.
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Author: Arthur Rudnick, LTCP
Date: 03-18-05 15:32
Jack;
I'm not sure what your agenda is, but why not try to act like an adult?
Here, let me start your reply:
"I'm not sure what your agenda is, but why not try to act like an adult?"
Arthur
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