[LTC-Sales_Discussions] Question for the group
David Hensley
ltc-sales_discussions@ltpcalums.com
Thu, 30 Oct 2003 12:18:37 -0500
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<DIV><SPAN class=3D736245716-30102003><FONT face=3DArial color=3D#0000ff =
size=3D2>Earl,</FONT></SPAN></DIV>
<DIV><SPAN class=3D736245716-30102003><FONT face=3DArial color=3D#0000ff =
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D736245716-30102003><FONT face=3DArial color=3D#0000ff =
size=3D2>My=20
firm is headquartered in NC and I understand your dilemma. My =
sense of the=20
law's impact on clients will be to take a client who still has =
health and=20
explore replacing some of the pre legislation product. New post =
legislation=20
product, particularly from one of the five majors who have not raised =
rates to=20
this point on in force policyholders, should make for a better=20
relationship. The newer product has several new benefits and=20
possibly you might approach the client by exploring =
adding a=20
ROP rider. Even though the pricing will be even higher, the client may =
feel that=20
they are using this as enforced savings to pass to =
heirs.</FONT></SPAN></DIV>
<DIV><SPAN class=3D736245716-30102003><FONT face=3DArial color=3D#0000ff =
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D736245716-30102003><FONT face=3DArial color=3D#0000ff =
size=3D2>David=20
Hensley</FONT></SPAN></DIV>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
<DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT =
face=3DTahoma=20
size=3D2>-----Original Message-----<BR><B>From:</B> Earl Redfern=20
[mailto:earl@lifetimeasset.com]<BR><B>Sent:</B> Wednesday, October 29, =
2003=20
2:53 PM<BR><B>To:</B> =
ltc-sales_discussions@ltpcalums.com<BR><B>Subject:</B>=20
[LTC-Sales_Discussions] Question for the =
group<BR><BR></FONT></DIV><FONT=20
style=3D"FONT-SIZE: 11pt; FONT-FAMILY: 'Tahoma'" color=3D#000080 =
size=3D4><B>I have=20
just had another round of rate increases on in-force contracts I had =
written=20
with a company who shall remain nameless at this point. It is their =
second=20
rate increase in a year and a half. The first increase was for 25% and =
the=20
this one is for 35%. This puts such a strain on seniors who are on =
fixed=20
budgets. My question is this - in NC, where I live, there is now a law =
establishing a cumulative cap on premiums for policies sold from this =
point=20
on. It varies by age and is a % of the original premium. Policies =
issued=20
before the law went into effect have no cap, however. Would you as an =
agent,=20
be more prone to replace these contracts now that that the cap law is =
in=20
effect if you had a company that had just had two rate increases in a =
short=20
time period? I realize that there are variables to consider, such as =
health,=20
cash flow, competitive prices, etc. I am just concerned that in my =
state there=20
will be more rate increases of non-grandfathered policies now that =
this cap=20
rule is in effect.Would be interested in your thoughts.
<P>R. Earl Redfern, CLU, ChFC, CSA,CLTC<BR><IMG alt=3D[image]=20
src=3D"cid:736245716@30102003-2610"><BR>7008 Harps Mill Rd., Ste.=20
101<BR>Raleigh, NC 27615
<P>(T) 919.845.5315 (F) 919.845.5346
<P>Securities offered through Commonwealth Financial Network, Member =
NASD,=20
SIPC.<BR>Advisory Services offered through Commonwealth Financial =
Network,=20
Member NASD, SIPC.</B></FONT> </P></BLOCKQUOTE></BODY></HTML>
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