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Reply to Hancock UL W/ LTCi Rider-  Good/Bad?     
Old 06-02-2017, 12:59 PM   #11
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Hancock UL W/ LTCi Rider-  Good/Bad?
Originally Posted by Mr_Ed View Post

Through what age is the death benefit guaranteed?
Is it an LTC rider or is it a chronic illness rider?
Jh is guaranteed through life expectancy so at that age, probably late 70s.

It is a true LTC rider (7702b).
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  Reply With Quote to Hancock UL W/ LTCi Rider-  Good/Bad?

Old 06-02-2017, 01:56 PM   #12
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Hancock UL W/ LTCi Rider-  Good/Bad? Re: Hancock UL W/ LTCi Rider- Good/Bad?
Originally Posted by Tahoe Ray View Post
Jh is guaranteed through life expectancy so at that age, probably late 70s.

It is a true LTC rider (7702b).
so at age 80 she'll either have a huge increase in premium OR she'll have to cut her benefits big time or she'll lapse the policy and lose everything.

why would anyone want to buy a policy like that?
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  Reply With Quote to Hancock UL W/ LTCi Rider-  Good/Bad?
Old 06-02-2017, 04:32 PM   #13
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Hancock UL W/ LTCi Rider-  Good/Bad? Re: Hancock UL W/ LTCi Rider- Good/Bad?
Originally Posted by Mr_Ed View Post
so at age 80 she'll either have a huge increase in premium OR she'll have to cut her benefits big time or she'll lapse the policy and lose everything.

why would anyone want to buy a policy like that?
You asked guaranteed. That would assume that they max COIs and reduce the interest rate to the min the day she buys it.

Non-guaranteed goes 125ish...

The outcome is likely in the middle. The JH policy looks a lot better overfunded... but then you're in ACIV premium territory anyway.

BTW, I agree that for a couple, ACIV is a better solution if LTC is your primary objective (and you want a hybrid).
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  Reply With Quote to Hancock UL W/ LTCi Rider-  Good/Bad?
Old 06-02-2017, 06:15 PM   #14
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CALTCAgent on Hancock UL W/ LTCi Rider-  Good/Bad?
 
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Hancock UL W/ LTCi Rider-  Good/Bad? Re: Hancock UL W/ LTCi Rider- Good/Bad?
It would be so much easier to really compare these plans with 2 illustrations and have all the numbers.
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Last edited by CALTCAgent; 06-02-2017 at 06:43 PM.
  Reply With Quote to Hancock UL W/ LTCi Rider-  Good/Bad?
Old 06-02-2017, 08:19 PM   #15
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Hancock UL W/ LTCi Rider-  Good/Bad? Re: Hancock UL W/ LTCi Rider- Good/Bad?
Originally Posted by Tahoe Ray View Post

BTW, I agree that for a couple, ACIV is a better solution if LTC is your primary objective (and you want a hybrid).

the only reason to buy ac4 is if LTC is your primary objective.
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  Reply With Quote to Hancock UL W/ LTCi Rider-  Good/Bad?
Old 06-02-2017, 08:48 PM   #16
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Hancock UL W/ LTCi Rider-  Good/Bad?
Originally Posted by Mr_Ed View Post

the only reason to buy ac4 is if LTC is your primary objective.
Correct .
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  Reply With Quote to Hancock UL W/ LTCi Rider-  Good/Bad?
Old 06-03-2017, 12:21 AM   #17
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ltcadviser on Hancock UL W/ LTCi Rider-  Good/Bad?
 
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Hancock UL W/ LTCi Rider-  Good/Bad? Re: Hancock UL W/ LTCi Rider- Good/Bad?
Originally Posted by CALTCAgent View Post
It would be so much easier to really compare these plans with 2 illustrations and have all the numbers.
We are not stopping you.

----------

Originally Posted by Mr_Ed View Post
why would anyone want to buy a policy like that?
Because it is sold.
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  Reply With Quote to Hancock UL W/ LTCi Rider-  Good/Bad?
Old 06-03-2017, 01:57 AM   #18
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Hancock UL W/ LTCi Rider-  Good/Bad? Re: Hancock UL W/ LTCi Rider- Good/Bad?
Originally Posted by ltcadviser View Post
We are not stopping you.
OK, if someone does the Hancock, I'll do the AC 4.
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  Reply With Quote to Hancock UL W/ LTCi Rider-  Good/Bad?
Old 06-03-2017, 02:40 AM   #19
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Hancock UL W/ LTCi Rider-  Good/Bad?
Originally Posted by CALTCAgent View Post

OK, if someone does the Hancock, I'll do the AC 4.
How much do all of us have the potential to make for running these illustrations?
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  Reply With Quote to Hancock UL W/ LTCi Rider-  Good/Bad?
Old 06-03-2017, 08:10 AM   #20
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ltcadviser on Hancock UL W/ LTCi Rider-  Good/Bad?
 
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Hancock UL W/ LTCi Rider-  Good/Bad? Re: Hancock UL W/ LTCi Rider- Good/Bad?
Originally Posted by Medigap Bill View Post

what are the pros/cons?

Female, 42, Premium is $4,600/ annual, Florida, got the policy last year.

It's a current assumption UL.

$4600 annual premium is too low to carry the policy. At age 87, internal rate of return on a $4600 premium for $1,000,000 db is 9.03%.

Policy funding will need to be much higher.

Need $11000 year premium at 5% IRR to fund $1,000,000 DB at age 87.

Pay now or pay much more later.

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