To provide buyers over 50s with affordable and relevant LTC insurance coverage
John Hancock Life Insurance (John Hancock) has introduced its latest version of its flagship long-term care (LTC) insurance policy, Custom Care II Enhanced product, now available in Massachusetts, Nevada, Oregon and Vermont.
The policy offers new benefits, several of which were developed with baby boomers in mind, such as Caregiver Support Services which provides policyholders and their uncovered family members with access to provider discounts, care provider quality reports, and expert advice when they are called on to be caregivers or care planners for aging parents, spouses, partners, children, and relatives.
The last one is CPI Compound Inflation which provides a more affordable compound inflation option that links annual benefit increases to changes in the Consumer Price Index (CPI).
Marianne Harrison, president of John Hancock Long-Term Care Insurance, said: It is our goal to provide today’s buyers, who are typically in their 50s, with affordable, comprehensive and relevant LTC insurance coverage. This new product offering increases the value to a policyholder by providing benefits that can be accessed at any time on behalf of parents and family members and is both affordable and relevant, especially in today’s environment.