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Re: LTC Insurance companies

Posted by James Baldwin on August 17, 2001 at 12:39:48:

In Reply to: Re: LTC Insurance companies posted by Steve Eads, CLU on August 17, 2001 at 10:24:49:

I bought a John Hancock LTC policy thru my employer. At age 48 I did not want to buy it but my wife insisted that I do so. It has a 100 day wait, $150 a day, lifetime, home and nursing coverage and compound inflation that covers me and my wife.

: I read where 60% of those over 65 will spent some time
: : in a nursing home, home care, etc. This says to me that 40% never enter the LTC system. So it can be said that 40% of the LTC insurance policies will not have a claim on them. What a gravey train! No wonder so many insurance companies are in the LTC business. With the under writing insurance companies furter add to there profit.

: James, do you realize that there are only 130+/-insurance companies out of some 2,000+/- that sell LTC insurance.

: LTCi is a very specialized product and market that only those companies with exceptional experience in health and disability insurance claims dare enter. Talk to a consulting insurance actuary if you doubt it.

: Best wishes,
: Steve Eads, CLU
: seads@dbtech.net

Follow Ups:

Re: LTC Insurance companies : I bought a John Hancock LTC policy thru my employer. At age 48 I did not want to buy it but my wife insisted that I do so. It has a 100 day wait, $150 a day, lifetime, home and nursing coverage and compound inflation that covers me and my wife. : : I read where 60% of those over 65 will spent some time : : : in a nursing home, home care, etc. This says to me that 40% never enter the LTC system. So it can be said that 40% of the LTC insurance policies will not have a claim on them. What a gravey train! No wonder so many insurance companies are in the LTC business. With the under writing insurance companies furter add to there profit. : : James, do you realize that there are only 130+/-insurance companies out of some 2,000+/- that sell LTC insurance. : : LTCi is a very specialized product and market that only those companies with exceptional experience in health and disability insurance claims dare enter. Talk to a consulting insurance actuary if you doubt it. : : Best wishes, : : Steve Eads, CLU : : seads@dbtech.net

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