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Life, Annuity, LTCI & DI

LTCI and DI Product Updates
By Ron Cohen, LTCI and DI Brokerage Specialist

LTCI
John Hancock has made the decision to increase rates on some of their older in-force block. Filing for approval began in mid-May 2008 nation-wide, with an average increase of 14%. Notifications to consumers begin in August 2008, and existing clients whose premiums are currently being waived will be informed, but not affected.

MedAmerica, a subsidiary of BC/BS of NY, offers the leading cash LTCI plan in the industry. Simplicity2 offers a choice of benefit pools that can meet a client’s need for LTC expenses. And best of all, these plans pay CASH, making them some of the easiest to sell in the marketplace.

Genworth Life has introduced a new feature and pricing as of June 16, 2008. Their popular Privileged Choice and Class Select series plans now offer a 3% Compound Rider. This new rider is about 23% less expensive than the traditional 5% Compound rider, for those clients who prefer compound to simple. You can quote directly from our website or call our office and we’ll show you the marketplace at a glance with our Market Study price comparison.

Great American is a new carrier to our lineup, which brings super-competitive pricing and especially underwriting that’s begun to set them apart in our carrier lineup. Call Ron Cohen in our office for an overview of their plans for your next quote.

DI
Mass Mutual has increased their limits for their 3S occupation class, which is for certain physicians and dental specialists, to $15K issue and now $20K participation. Coupled with their Own Occ Rider and the ability to earn dividends, this makes Mass a great choice for this niche market.