California Partnership Plan Facts
he other day I had a client ask two questions pertaining to the California Partnership Plan, which I had not previously been asked. I found a contact at the CA State Partnership, (named Tracy, her number: 916-552-8990), who was able to answer these questions for us.
Q1) Can she and her husband reduce the inflation protection from 5% compound to 5% simple after they turn 70.
A: The State representative said it is acceptable to reduce the inflation protection after age 70, and retain the benefits of the Partnership Plan, but this would not be advised due to the added protection of[…]
Complaints About Guarantee Trust Life Insurance Co
Today there was an article in the Des Moines Register about how Iowans (like all Americans) are facing more and more problems with some of their long term care insurance policies. Ususally, these policies were purchased years ago, before much of the current model legislation from the NAIC was enacted. In other words, these policies were night and day different from today’s policies. Guarantee Trust Life Insurance Company in particular has a specific complaint from one of the readers:
“Recently we talked with Michael Niday, a 57-year-old bricklayer who lives in Carlisle. Four years ago, he and his[…]
LTC Tree Long Term Care Insurance Q & A with Client
Client’s long term care insurance questions
1. What kind of physical/medical review or exam is done prior to underwriting this long term care insurance policy? Is the preferred health discount determined by medical record review, exam or questionnaire?
2. Do they pay actual expense up to the daily limit? If so, and If you had home care or assisted living and it cost less than the daily limit, (say 50% for example) would you be covered for 6 years on a 3 year policy or 10 years on a 5 year policy? Or is the benefit period of[…]
Genworth Long Term Care Insurance
Genworth Long Term Care Insurance Products
The latest Genworth Long Term Care Insurance product offering is called Genworth Privileged Choice Flex. Privileged Choice Flex may be a perfect fit for many Long Term Care Insurance consumers, but the conventional advice of shopping around is still in play. The fact of the matter is, there are good LTCI products from all of the major blue chip carriers, and we are happy to help compare. Many consumers are unfamiliar with Genworth Life, which traces its roots back to the Life Insurance Company of Virginia in 1871. Their Long Term Care Insurance products roots[…]
Genworth’s CEO resigns
Breaking news from Genworth Financial’s conference call yesterday, after their earning release they announced that their CEO Michael Fraizer resigned from his post. Good luck to him on his new ventures and he did help navigate GNW through very tough times over the past 5 years as the financial markets crashed.
Genworth is the leading player in the Long Term Care Insurance Industry so I wonder how this will effect them in the LTC industry?
Prudential’s LTC3 Long Term Care Insurance
Prudential Insurance Company of America is an experienced leader in the Long Term Care Insurance industry. In most states, Prudential’s Long-Term Care Insurance plan was LTC3 until April 1, 2012.
Prudential Long Term Care Insurance is an American icon, but is #4 in Long Term Care Sales behind larger players like Genworth, John Hancock, and Mutual of Omaha.
What is covered in the Prudential Long Term Care Plan?
The Prudential LTC3 plan covers both facility and home health care. It also gives you flexibility with optional riders and included features like Restoration of Benefits.
Prudential Financial Ratings
Prudential is rated A+ by AM[…]
Reviews of each company’s financial stability ratings, claims experience, and size.
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Price comparisons customized to suit your specific needs from top carriers such as Nationwide, Thrivent, New York Life, National Guardian Life, Mutual of Omaha, and more.