John Hancock long term care insurance is shutting down

The insurer recently announced its intentions to step out of that market and will cease selling next month. As of December 2016, John Hancock long term care insurance policies will no longer be sold by the insurer. This announcement arrived as the company announced that it would be exiting that coverage market. The insurance company is owned by one of the largest long term care policy providers in the United States. John Hancock long term care insurance is owned by Canadian firm Manulife Financial Corp. That company is among the…

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John Hancock Financial raises rates on long-term care, sees backlash from consumers

John Hancock Financial, one of Colorado’s largest insurance companies, recently raised rates for long-term care coverage significantly. Some consumers saw increases as high as 90%, while other saw increases of half that number. The rate hikes have sparked the ire of consumers who say that these new rates are excessive. The state’s Department of Insurance is not being inundated with complaints concerning the matter, though regulators claim that the rates are somewhat justified. Long-term care insurance provides coverage for those that must take advantage of nursing homes or various types…

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John Hancock announces re-entry into individual long-term care insurance in California

John Hancock has announced that it will be resuming its place as a part of the California individual long-term care insurance marketplace, starting on February 27, 2012, through both its Custom Care III (non-Partnership) and its new California Partnership policy. These two policies will provide comprehensive long-term care coverage for all circumstances, such as assisted living facilities, nursing homes, adult day-care centers, and at home, and will also provide the policyholder with care planning and care giving support. The president of John Hancock long-term care insurance, Marianne Harrison, expressed the…

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