John Hancock Makes Adjustments to State Partnership Long Term Care Insurance Products
John Hancock has announced the discontinuation of the sale of its California Partnership Long Term Care Insurance product, effective Monday, September 16.
Strict Regulations and Low Sales in California
The company described the move as a “difficult decision” based on “continued low sales volume” and their findings “that the strategic direction of our LTC products and markets no longer synchronizes with California Partnership regulatory requirements”.
Current policyholders of California Partnership plans will not be affected by the changes, and already existing plans remain guaranteed renewable. However, the company did note that premium rates can be raised based on regulatory approval. All applications for[…]
Reviews of each company’s financial stability ratings, claims experience, and size.
A side-by-side comparison of each company’s policy features. We cover the similarities and the differences.
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.