Just got LTC quotes....

[Rich_by_the_Bay]

20-30 year horizon creates a risk for any carrier, IMHO. Unlike annuities, for example, I am not aware of any state safety net on LTC.

 

[East Texas]

Both our LTC policies are with John Hancock.

ETA: When I wanted LTC, I called USAA - who I trust completely. They gave me a quote for John Hancock LTC. Knowing how picky USAA is with their business partners, I had absolutely no problem going with JH.

If you are a USAA member, call them. I got a group discount and also a discount for paying annually.

 

[dgoldenz]

For those that gave compliments, thanks!

Both our LTC policies are with John Hancock.

ETA: When I wanted LTC, I called USAA - who I trust completely. They gave me a quote for John Hancock LTC. Knowing how picky USAA is with their business partners, I had absolutely no problem going with JH.

If you are a USAA member, call them. I got a group discount and also a discount for paying annually.

JH used to be very competitive with Genworth until they jacked up their rates for compound inflation policies. I think they also changed the way they offer their spousal discounts, but I'd have to go back and look on that. Now they are about 50% more expensive on the various quotes I've run (double in some cases as you can see below) and aren't even close to the rates of Genworth, United/Mutual of Omaha, Transamerica, or Prudential. Every case is different, but I haven't come across any cases lately where JH was even comparable to the other leading companies.

Example:

55 year old couple, both preferred risks
90-day waiting period
0-day waiting period for home healthcare
$6000 monthly benefit
Survivorship benefit
3-year shared benefit period (6 years total)

GW - $3969/year
UoO - $4623/year
Pru - $5173/year (going up ~40% in April too)
TA - $5814/year
JH - $7755/year

 

[LightningDawg]

For those that gave compliments, thanks!



JH used to be very competitive with Genworth until they jacked up their rates for compound inflation policies. I think they also changed the way they offer their spousal discounts, but I'd have to go back and look on that. Now they are about 50% more expensive on the various quotes I've run (double in some cases as you can see below) and aren't even close to the rates of Genworth, United/Mutual of Omaha, Transamerica, or Prudential. Every case is different, but I haven't come across any cases lately where JH was even comparable to the other leading companies.

Example:

55 year old couple, both preferred risks
90-day waiting period
0-day waiting period for home healthcare
$6000 monthly benefit
Survivorship benefit
3-year shared benefit period (6 years total)

GW - $3969/year
UoO - $4623/year
Pru - $5173/year (going up ~40% in April too)
TA - $5814/year
JH - $7755/year

I still need to know if Genworth is a good enough company to enter into a long term contract with.....anyone else have an opinion on this company?

 

[East Texas]

This link might help you with your decision. Even though it's from the Texas Department of Insurance (I'm not sure where you live), the information is good.

A Shopper's Guide to Long-Term Care Insurance from the Texas Department of Insurance