[LTC-Sales_Discussions] Re: LTC-Sales_Discussions digest, Vol 1 #288 - 19 msgs

[Kevin Dennis]

The term used to describe limited pay ltc policies as non-can  for some
contracts are correct. For example Lincoln Benefit offers a single pay.
Which makes it a non-can from the start as there are no time frames in which
to increase the  premiums. They are guaranteed from the beginning. The
contract guarantees this  with  a one time single premium.
    Policies that have limited pay terms do not exercise the non-can clause
until the policy has been paid up. The company cannot open the contract and
increase premiums once the policy becomes paid-up. This does not apply to
ltc polices which have a guarantee for only a specified time frame.
                        Kevin Dennis D.M., LUTCF, CLTC

----- Original Message ----- 
From: "Rich Cohen" <rich_03063@yahoo.com>
To: <ltc-sales_discussions@ltpcalums.com>
Sent: Thursday, October 23, 2003 3:08 PM
Subject: [LTC-Sales_Discussions] Re: LTC-Sales_Discussions digest, Vol 1
#288 - 19 msgs


> Wow .. did someone actually say that you can call a
> policy with a rate guarantee a non-can product during
> the rate guarantee? Hope you have a really good E&O
> provider.
>
> While it's true that a carrier that offers a rate
> guarantee for a few years, (or in the case of
> Transamerica you can buy up to 20 years of rate
> guarantee,) or a policy that is a 5 or 10 pay, or paid
> up @ 65 will NOT raise rates either during the rate
> guarantee, or after the limited pay period is
> finished, calling that policy a non-can would
> guarantee you a quick trip to the compliance office.
>
> On one of the e-mails today, there were comments about
> Life Investors, PFL, Monumental, & Transamerica. All
> are Aegon companies and yes, PFL did morph into
> Monumental. Aegon had so many distribution channels
> they wanted to make everyone think that had their own
> product. All of them are decent companies but Aegon
> isn't bashful about rate increases. I also think Aegon
> is a good company overall too.
>
> I've used StrateCision for years ... great product for
> quote comparisons. I don't use it for product
> comparisons, just for quotes.
>
> Rich Cohen CSA, CLTC
> > >Long Term Care Specialist - Managing Associate
> > >Registered Representative
> > >New England Financial
> > >168 South River Road
> > >Bedford, NH 03110
> > >603-668-8380 Ext 156
> > >Fax: 603-668-7199
> > >rich_03063@yahoo.com
> > >rcohen@maine-nh.nef.com
>
>
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