Do rosy pictures sell newspapers?
Do rosy pictures generate clicks?
Facts are facts, though.
Unfortunately, facts aren't as exciting as embellishments.
Maryland Law May Prohibit John Hancock Increase
- Thread starter Crabcake Johnny
- Start date
Do rosy pictures sell newspapers?
Do rosy pictures generate clicks?
Facts are facts, though.
Unfortunately, facts aren't as exciting as embellishments.
- Thread starter
- #52
- 14,809
I agree with all the facts in that article. I guess it was too great of a market for Met Life.
In the last 10 years 5 major insurers have stopped selling new LTCi policies.
In the last 10 years 5 major insurers have started selling new LTCi policies.
That sounds like a wash to me.
- 10,365
Who are the companies?
Fascinating. You're basing your statement that long-term care insurers are "losing money on long-term care insurance" because you've "read between the lines" of a conference call of ONE insurance company.
Not only have you not investigated all the other LTC insurers, but the one insurer that you're using as "proof" that LTC insurers are losing money, hasn't even stated that they are losing money on LTC insurance, but you've "read it in between the lines".
fyi... since it's a stock company, they would be violating securities laws if they were losing money on a product and did NOT explicitly inform stockholders of that fact. Are you suggesting that the officers are risking going to prison by not informing you (and other stockholders) that they are losing money on LTC insurance.
Do you have any evidence other than your "reading between the lines?"
any?
just a teensy weensy little shread of evidence to back your statement???
itsy bitsy????
any???
just a little bitty factoid or something????
anything???
- 10,365
I have logic and rational thinking.
“While this is a difficult decision, the financial challenges facing the LTCI industry in the current environment are well known.”
This is straight from Mets press release.
JH has said multiple statements along the same lines.
It doesnt take a genius to understand what they are saying.
Two companies say that there are "financial challenges" with long-term care insurance and from that you conclude that they are all "losing money."
I think that in this economic environment every business can say that there are "financial challenges"--not just insurance companies--and not just long-term care insurers.
Do you have any evidence at all to back your statement that they are losing money on their long-term care insurance books?
- 10,365
If they arent now, they see it in the future; thats why they are discontinuing sales and raising rates.
Apparently my exaggeration has struck a nerve with you today.... or you just want to find something..... anything.... that I am wrong about and point it out just to try to make yourself look better...
And of course they arent loosing money yet when they are raising rates 40%!
But a 40% rate increase means that if they did not raise rates they most certainly would be upside down and loosing money in the near future!
And even though JH might not have raised rates a lot, some of the business that they have bought has had rate increases already.... try asking one of those customers what they think of their policy now, not a fun conversation.
Your rosy view of the traditional LTC industry is frighteningly blind imo
So what do you tell your clients about the possibility of rate increases? Or the likely hood that their company will not sell that block of business?
Do you tell them the same things you tell us? That all is fine in the industry and there is nothing to worry about?
Most of us are here to learn.
So if everyone is so off base about this:
Explain to us why we are!
Make a professional conversation out of it and share some knowledge instead of make accusations about other peoples knowledge.
I am totally open to learning why all the troubles are in the past in the LTC industry. But so far you have not given us any info to back up your claims.
I dont claim to be an LTC guru, just a realist.
I am not being sarcastic, if you have info, please share. If not, go away and stop wasting time.
Apparently my exaggeration has struck a nerve with you today.... or you just want to find something..... anything.... that I am wrong about and point it out just to try to make yourself look better...
And of course they arent loosing money yet when they are raising rates 40%!
But a 40% rate increase means that if they did not raise rates they most certainly would be upside down and loosing money in the near future!
And even though JH might not have raised rates a lot, some of the business that they have bought has had rate increases already.... try asking one of those customers what they think of their policy now, not a fun conversation.
Your rosy view of the traditional LTC industry is frighteningly blind imo
So what do you tell your clients about the possibility of rate increases? Or the likely hood that their company will not sell that block of business?
Do you tell them the same things you tell us? That all is fine in the industry and there is nothing to worry about?
Most of us are here to learn.
So if everyone is so off base about this:
Explain to us why we are!
Make a professional conversation out of it and share some knowledge instead of make accusations about other peoples knowledge.
I am totally open to learning why all the troubles are in the past in the LTC industry. But so far you have not given us any info to back up your claims.
I dont claim to be an LTC guru, just a realist.
I am not being sarcastic, if you have info, please share. If not, go away and stop wasting time.
- 403
Many LTC carriers have made more money than they expected so far. Early low lapses mean lower losses. But some of them increase rates because of projections (due to higher-than-expected persistency) that show they will lose money in the future.
Thank you for sharing the "facts" from which you've drawn your conclusion. I'm sure you believe everything "Dateline" says about annuities also.
- - - - - - - - - - - - - - - - - -
So, they aren't losing money on their LTC insurance blocks. But, it's possible that they might sometime in the distant future, possibly, maybe...
Based upon that information, it's clear that anyone with half a brain can use "logic and rational thinking" and conclude that "they are all losing money".
To some people on this board, possibly losing money sometime in the distant future is the same as "all of them are losing money" and "the industry is in the crapper".
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