PC2 Rates

[Arthur Rudnick]

Hard to believe, but................

I just did a proposal with Genworth for a couple in NJ.
Both 70 years old.
$200/day
100% home care & Alf
3 years
90 Service days
FPO
Combined premiums: $6,580

Also a proposal for the wife only.
Same benefits
Premium: $7,479

Nope, not a mistake.

I'm not sure, but I think the world is coming to an end......

 

[Mr_Ed]

Hard to believe, but................

I just did a proposal with Genworth for a couple in NJ.
Both 70 years old.
$200/day
100% home care & Alf
3 years
90 Service days
FPO
Combined premiums: $6,580

Also a proposal for the wife only.
Same benefits
Premium: $7,479

Nope, not a mistake.

I'm not sure, but I think the world is coming to an end......

that's not new.
with the 40% marital discount that genworth has had for awhile, a single person would often pay nearly the same price as a married couple.

now with the gender based rates, it's even more so.

 

[ltcadviser]

And anyway, even if the husband does not want or need coverage you would still put the husband on the application to get the couples discount for the wife, sending the husband's policy back as not taken.

 

[Justin Bilyj]

Did that have the shared care rider? If not how much extra is that?

 

[CALTCAgent]

And anyway, even if the husband does not want or need coverage you would still put the husband on the application to get the couples discount for the wife, sending the husband's policy back as not taken.

They will take the discount back, if it is a "not taken", won't they?

I have heard conflicting things on this.

 

[Arthur Rudnick]

previously posted by CALTCAgent

And anyway, even if the husband does not want or need coverage you would
still put the husband on the application to get the couples discount for the
wife, sending the husband's policy back as not taken.They will take the discount
back, if it is a "not taken", won't they? I have heard conflicting things on this.

We still have PCFlex (not PCFlex2) in NY, and this is how it works:

Couples’ Discount If both you and your
spouse or partner are eligible, and issued
policies, each of you will receive a 25%
Couples Discount.

If both of you are eligible and apply, but
only one is issued a policy, he or she will
still receive a 10% Couples Discount.

So, according to this, both must apply and if one is declined, the issued spouse receives a 10% discount. It does not address what happens if both are approved and one refuses coverage.




​

 

[ltcadviser]

Discount stays. Not sure why you would have heard different. Genworth never takes it away.

 

[CALTCAgent]

Discount stays. Not sure why you would have heard different. Genworth never takes it away.

Someone in the home office was not sure when I asked them. Good to know that this works though!

 

[Arthur Rudnick]

I've just received confirmation that if both spouses apply & both are approved and one refuses to accept, the 10% discount still applies.

You're correct Jack.

 

[CALTCAgent]

I've just received confirmation that if both spouses apply & both are approved and one refuses to accept, the 10% discount still applies.

You're correct Jack.

Couldn't they get the 10% discount without both having to apply?

I was thinking we were talking about the 40% discount for both?