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Re: State-life / Monumental

Posted by Jeffrey on October 19, 2002 at 14:11:28:

In Reply to: Re: State-life / Monumental posted by Jim on August 05, 2002 at 11:58:43:

State Life's LTC is not underwritten by State-Life. It is important that you do not merely look at the financials of the company as a whole, but rather the lapse ratio and financial stability of the long term care division.

MassMutual utilizes the same company to provide its long term care product. The financial stability of the long term care provider for State-Life and MassMutual is pretty good. Plus there is no exclusion clause for acts of war (declared) or (undeclared). Many carriers out there have such exclusions, and "at this time" may or may not consider terrorist acts as acts of war/declared or not. Would you rather leave the decision making up to the insurance carrier or would you rather have it in writing where there is no exclusion.

Read the sample specimen policies and work with a professional LTC agent who is willing to assist you in digging into the information.

:
: Monumental is part of te AGEON group a very large world wide insurance group. State Life does not seem to me to be as stable as Monumental.

: : I currently have a LTC policy with Allianz. Recently I received a quote form State-Life and Monumental that is from $100 to $300 cheaper (same features) annually. My question is how do these two compare to Allianz in terms of financial stability, LTC experience, history of rate increases, premium processing? Should I consider switching ?

Follow Ups:

Re: State-life / Monumental : State Life's LTC is not underwritten by State-Life. It is important that you do not merely look at the financials of the company as a whole, but rather the lapse ratio and financial stability of the long term care division. : MassMutual utilizes the same company to provide its long term care product. The financial stability of the long term care provider for State-Life and MassMutual is pretty good. Plus there is no exclusion clause for acts of war (declared) or (undeclared). Many carriers out there have such exclusions, and "at this time" may or may not consider terrorist acts as acts of war/declared or not. Would you rather leave the decision making up to the insurance carrier or would you rather have it in writing where there is no exclusion. : Read the sample specimen policies and work with a professional LTC agent who is willing to assist you in digging into the information. : : : : : Monumental is part of te AGEON group a very large world wide insurance group. State Life does not seem to me to be as stable as Monumental. : : : I currently have a LTC policy with Allianz. Recently I received a quote form State-Life and Monumental that is from $100 to $300 cheaper (same features) annually. My question is how do these two compare to Allianz in terms of financial stability, LTC experience, history of rate increases, premium processing? Should I consider switching ?

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