Mutual of Omaha Vs. Hancock

[JFBAgent]

I wrote a Hancock LTC 1 year ago, on my father in law. I am told that of all the rate increases Hancock is applying for, policies written 2008 and later will not recieve an increase.

However, my FMO is telling me it is highly likely that the post- 2008 book of business will receive rate increases sometime in the not too distant future.

They are recommending I switch him to Mutual of Omaha. They suggest that the MoO LTC book of business probably won't get hit with similar rate increases.

Any thoughts on this?

 

[Mr_Ed]

I wrote a Hancock LTC 1 year ago, on my father in law. I am told that of all the rate increases Hancock is applying for, policies written 2008 and later will not recieve an increase.

However, my FMO is telling me it is highly likely that the post- 2008 book of business will receive rate increases sometime in the not too distant future.

They are recommending I switch him to Mutual of Omaha. They suggest that the MoO LTC book of business probably won't get hit with similar rate increases.

Any thoughts on this?

Sometimes I just want to throw up.

 

[JFBAgent]

Sometimes I just want to throw up.

Care to expand on that?

 

[Fisher]

I have to be thinking that your FMO would love to have the new premium.

 

[Arthur Rudnick]

I think what NADM is trying to say is:
1) The 3 bottles of beer he drank with this morning's breakfast didn't agree with him, and
2) How does your FMO have a clue as to what rate increases any carrier is planning on in the future?

 

[JFBAgent]

I think what NADM is trying to say is:
1) The 3 bottles of beer he drank with this morning's breakfast didn't agree with him, and
2) How does your FMO have a clue as to what rate increases any carrier is planning on in the future?

Arthur,

That's what I was thinking. I prefer some direct 3rd party opinions on the forum to the hoo-rah that the company reps might give me.

 

[Mr_Ed]

Arthur,

That's what I was thinking. I prefer some direct 3rd party opinions on the forum to the hoo-rah that the company reps might give me.

Most company reps shoot straight. They have too.

 

[CALTCAgent]

I wrote a Hancock LTC 1 year ago, on my father in law. I am told that of all the rate increases Hancock is applying for, policies written 2008 and later will not recieve an increase.

However, my FMO is telling me it is highly likely that the post- 2008 book of business will receive rate increases sometime in the not too distant future.

They are recommending I switch him to Mutual of Omaha. They suggest that the MoO LTC book of business probably won't get hit with similar rate increases.

Any thoughts on this?

Ask them why they suggest this and post that here. I'd like to see the reasons and then people could respond to those reasons.

Thanks!

 

[billberry12]

Great idea! +1 for posting the reasons.

 

[billberry12]

Well, I guess the story ended here.