CNA Group LTC Rates

[ltcadviser]

I reviewed a CNA group policy for a 45 year old client of mine. Pricing seems terrific. $200/day, 5% Compound inflation, 90 calendar day EP, 5 year benefit period. $1309/year.

Anyone have any knowledge on how CNA is treating group policyholders as far as rate increases?

I realize this price has nowhere to go but up.

I think he should buy $300 day with 5% compound for $1970/year and just grow the benefits at a cheap price until the rate increases hit. Until then, pedal to the metal.

Thoughts ?

 

[Mr_Ed]

I reviewed a CNA group policy for a 45 year old client of mine. Pricing seems terrific. $200/day, 5% Compound inflation, 90 calendar day EP, 5 year benefit period. $1309/year.

Anyone have any knowledge on how CNA is treating group policyholders as far as rate increases?

I realize this price has nowhere to go but up.

I think he should buy $300 day with 5% compound for $1970/year and just grow the benefits at a cheap price until the rate increases hit. Until then, pedal to the metal.

Thoughts ?

agreed

 

[Arthur Rudnick]

previously posted by ltcadviser

I reviewed a CNA group policy for a 45 year old client of mine. Pricing seems terrific. $200/day, 5% Compound inflation, 90 calendar day EP, 5 year benefit period. $1309/year.
Anyone have any knowledge on how CNA is treating group policyholders as far as rate increases?
I realize this price has nowhere to go but up. I think he should buy $300 day with 5% compound for $1970/year and just grow the benefits at a cheap price until the rate increases hit. Until then, pedal to the metal. Thoughts ?

Are you suggesting that he call CNA and try to upgrade his present policy to $300/day or are you looking to replace his present policy and sell him a new one from another carrier at $300/day? Or, are you looking to sell him an additional policy at $100/day?

 

[ltcadviser]

previously posted by ltcadviser



Are you suggesting that he call CNA and try to upgrade his present policy to $300/day or are you looking to replace his present policy and sell him a new one from another carrier at $300/day? Or, are you looking to sell him an additional policy at $100/day?

I am not looking to sell him any coverage. I sold him a life insurance policy. He has no LTC. He has open enrollment for LTC and can buy up to $300/day, 5 year bp, and 5% compound. It is 75% home care. I think he should buy the max, build up equity and only peel back once rate increases hit .

 

[Mr_Ed]

I am not looking to sell him any coverage. I sold him a life insurance policy. He has no LTC. He has open enrollment for LTC and can buy up to $300/day, 5 year bp, and 5% compound. It is 75% home care. I think he should buy the max, build up equity and only peel back once rate increases hit .

right on.

 

[Arthur Rudnick]

OK,
That makes sense.

 

[ltcadviser]

Well, I was looking to sell him coverage until the group plan was offered. Can not compete with these rates. Just ridiculously inexpensive