John Hancock: We're still here

By National Underwriter

National Underwriter


By Allison Bell

John Hancock Long-Term Care Insurance is making a point of telling long-term care insurance (LTCI) agents and brokers that it wants their clients' business.

John Hancock, Boston, a unit of Manulife Financial Corp. (NYSE:MFC), has been one of many LTCI carriers buffeted in recent years by low yields on invested assets and discoveries about the complexity of LTCI underwriting and pricing.

Manulife, the unit's parent, reported in November 2011 that the John Hancock LTCI products were "not targeted for growth."

But the unit recently has been giving off signals that it might be interested in something sales growth.

The John Hancock unit said in a newsletter aimed at LTCI producers that it wants to be their preferred LTCI partner.

At a time when some insurers are reducing benefits, John Hancock continues to offer healthy consumers a 10 percent discount on prices for two top LTCI products while maintaining the producer's usual level of compensation, John Hancock said.

"John Hancock is a company with solid financial strength dedicated to providing responsibly designed products that enable you to meet your clients' needs and grow your business," John Hancock said.

Originally published on LifeHealthPro.com