Recent headlines on the LTC front have been grim: Increased premiums, bad claims experience and charges to earnings have dominated the headlines and clients have been subjected to massive rate increases. Why introduce a new LTC product in this environment? According to John Hancock, its the perfect time, providing we all learn from history rather than being doomed to repeat it. Read on to see just how John Hancock’s latest offering gets after this very issue.
John Hancock Introduces Revolutionary New LTC Product: Performance LTC
2015 may very well turn out to be the “Year of John Hancock” based on a series of new product launches that bring a fresh approach to many of the product design challenges we all face. The first step was an expansion of their term insurance offering, followed by the more recent launch of Performance LTC. Performance LTC delivers on any number of fronts that clients care deeply about:
- Competitive Premiums: Performance LTC may be the most competitively priced level pay product available today.
- Flexibility: The use of Flex Credits and the Flex Account allows clients to design an LTC solution that balances current premium cost, potential future premium increases, and the grey areas of expenses in excess of per diem limits or that take pace during the elimination period.
- Transparency: Performance LTC has unlocked the LTC pricing black box and allows clients to participate in both the good and the bad of both claims and investment experience at John Hancock.
- Premiums that can go down as well as up: The Flex Credits have the potential to reduce future premiums to zero!