John Hancock Life Insurance has announced that it is selling partnership qualified long term care insurance policies in Florida.
Under the partnership program, Florida policyholders can protect their assets – equal to the dollar value of the benefits paid out of their long term care insurance policy – when qualifying for LTC services under Medicaid.
Laura Moore, president of long term care insurance at John Hancock, said: We are pleased that Florida has decided to opt into an LTC Partnership program following the passage of the Deficit Reduction Act last year. These policies make long term care insurance even more meaningful to a broader portion of the population.