Charlie456
Expert
- 88
I heard that MM is no longer going to allow brokers to sell their traditional LTCI very soon. What's that about? Do you think they just want to slow sales or are they positioning themselves to exit?
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Sales are high right now, there are rumors (nothing confirmed), but they have a new product coming out in 2017 I heard.
Wonder if Scott, Ed, or anyone else has an opinion on selling current ltci products for a company if they are going to discontinue this series and start a new one next year?
New policy forms are filed by every insurance company every ~3 years. As we all know, pricing/benefits gets worse not better with each passing year. No reason to not write the best policies for our clients while they are available. Everything else is outside of our control.
Have you heard anything about this rumor though?
I haven't but nothing would surprise me. My gut instinct is Mass Mutual will only be a terrific option for 6 more months anyway. I just expect the forthcoming policy series whenever introduced will probably be too expensive. Especially seeing where NY Life and Northwestern Mutual are today.
Traditional LTC pricing is starting to make hybrids look terrific.
If you sell what they currently have isnt the asking for rate increases down the road?
If you sell what they currently have isnt the asking for rate increases down the road?