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Re: John Hancock

Posted by Steve Eads, CLU on September 11, 2001 at 12:09:25:

In Reply to: John Hancock posted by James Baldwin on September 09, 2001 at 18:39:56:

: I saw a "comment" on the internet that John Hancock is expected to market an updated LTC policy in 2002. Can anyone confirm this

Scott is correct, in his warning that newer is not necessarily better...many times companies improve in one area and decrease benefits in another to offset any actuarial risk to the company. The shell game...many people call it marketing. In these situations, you will hear chest-thumping about the improvements but NOTHING about any of the benefit reductions.

The bottom line is that LTC insurance is very much a buyer beware contract and the consumer MUST seek true professional advice from LTC insurance specialists and ONLY LTC insurance specialists in order to have any real chance of not giving away the farm without even knowing it.

Rarely, will your auto and homeowners agent and your life insurance agent know the intricate details of their own company's policy...much less the top 10-20 companies in the nation.

Yes, that is a very biased opinion, my own.

Steve Eads, CLU

Follow Ups:

Re: John Hancock H. B. SAMPAT 16:33:20 11/30/01 (0)
Re: John Hancock H. B. SAMPAT 16:31:56 11/30/01 (0)

Re: John Hancock : : I saw a "comment" on the internet that John Hancock is expected to market an updated LTC policy in 2002. Can anyone confirm this : Scott is correct, in his warning that newer is not necessarily better...many times companies improve in one area and decrease benefits in another to offset any actuarial risk to the company. The shell game...many people call it marketing. In these situations, you will hear chest-thumping about the improvements but NOTHING about any of the benefit reductions. : The bottom line is that LTC insurance is very much a buyer beware contract and the consumer MUST seek true professional advice from LTC insurance specialists and ONLY LTC insurance specialists in order to have any real chance of not giving away the farm without even knowing it. : Rarely, will your auto and homeowners agent and your life insurance agent know the intricate details of their own company's policy...much less the top 10-20 companies in the nation. : Yes, that is a very biased opinion, my own. : Steve Eads, CLU

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