John Hancock Long-Term Care Insurance
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Insurance companies employ large numbers of actuaries to determine risks associated with products they intend to market. The companies then price policies accordingly and consumers who buy these products do so with the understanding that risk has been analyzed, accepted by the insurance company, and priced into premiums. This is especially challenging when the risks involve life expectancy and long term care (LTC) unlike, say, insuring a car or a home. Nevertheless, companies including John Hancock assumed LTC risks with their eyes open! A thoughtful person could easily understand that actuarial forecasts regarding a particular product cannot always be 100% accurate. That is an integral part of the overall risk insurance companies take. Some products of a large diversified insurer such as John Hancock lose money over time while others make money.
If they are expert at what they do overall, winners outshine losers and the company and its shareholders benefit accordingly. Insurance agents who sell life and/or LTC policies strongly stress the size, historical reliability and staying power of the insurer they represent. The sale is closed on the understanding that if originally agreed premiums are regularly paid, and the insured dies or the LTC need presents itself, the company will be there to pay up and the policyholder can do her or his retirement and estate planning accordingly. (Fine print, if any, need not factor into purchase decisions thanks to the gold plated reputation of the company). Just as the life insurance policyholder cannot imagine premiums being raised as death draws nearer, the LTC policyholder cannot imagine premium increases when earnings are reduced and health issues and associated costs are closing in.
Unfortunately and devastatingly, the mutual trust and obligations involved in selling and buying LTC policies are recklessly negated when LTC insurers, after setting premiums and selling policies for many years, successfully appeal to regulators to have their LTC losses (or projected losses) put on the backs of policyholders. The policyholders impacted have held up their end of the bargain, in many cases for decades. Regulators should send LTC insurers back where they came from, told to eat their mistakes and to be more careful next time around. Period!
I agree with James from Dayton, Ohio... I am having serious doubts about this company. I do not like the idea of how they want payments also. I have always paid thru electronic payment thru my bank account and was set up (BY ME) to have paid by the first of the month. We now have two choices, twice a year payment OR they will pull payment from my account every month. No one gets into any of my accounts. Can they even do this? Force payments like this? Not real sure of understanding all the rate increases either. I do wish someone would look into this. Not sure really how to rate this either.
As with James of Dayton, OH, we too are being hit with a very substantial rate increase (our third one in 16 years). Hancock also says that they plan to follow up with the same percentage increase in at least each of the next three years. We understand increased costs but believe these increases are grossly unfair. We policyholders are now quite senior and bought on the basis of John Hancock’s good name. No doubt that we will soon be priced out of our care policies as we survive on social security plus small savings. I would like to join a class action lawsuit against John Hancock to limit or stop future premium increases.
I have a long term health care policy which is limited in total payout and length of term for the payout, yet John Hancock claims they are raising my premium because people are living longer and the cost of long term health care is going up. Neither of those things should affect me or them, yet they will not budge. I have contacted the Ohio Department of Insurance and they, so far, are not willing to fight the issue. I have made contact with several lawyers who say that I have a good case but they want to give ODI more time to come around. My question is: "How many other policies are out there just like mine which would be candidates for class action lawsuit? Remember, if you have a policy which pays out until death with no defined end, you are no in my boat.
My family and I have had the worst experience with the company! A relative started a claim when she didn't feel well and I took over as her power of attorney a few month later. The documents were constantly being returned to make small changes. Even after making the change, the same document would come back for another change. Their legal group would flip-flop on advice, so I had to get my an attorney. They would request documentation that did not make sense; if the documentation wasn't returned within 30 or 45 days, then the claim process would stop. With slow mail forwarding and caring for someone out of town, this was not a lot of time.
Five months after the application process was started, my relative died. I shifted from power of attorney to a trustee. This change pretty much started the whole application process over. I continued the process to be reimbursed for the medical bills. More documentation was requested with timelines. After lots of paperwork shuffling, the application was approved! I sent the claim in for reimbursement. I received a letter saying I couldn't file a claim and they needed additional documentation proving I could legally make a claim. They would only accept a certain document, but it wasn't done in my state. I had to have my attorney talk with them to accept another document, which they agreed to.
I spoke with representatives many times and they said this was the LAST document needed. (The phone folks are always nice, but they are just a middle person.) I sent in the documentation, and they sent a letter saying the document wasn't good and additional information was needed. Some of the requested information was sent in months before. I'm having an attorney deal with them exclusively from now. The death of a loved one is heavy, and this company makes the situation worst.
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Just received a letter from J.H. informing me that they will no longer bill by the month. Starting in 2018, they will only bill semi-annually. That means all of their customers will have to pay their premiums six months in advance or allow J.H. access to my bank account for monthly withdraws. As retired IT professional, anyone giving a vendor access to your bank account is just asking for disaster. Easy to start but really hard to undo.
Basically, I will give them a six month interest free loan and they will save the cost of billing. This will make a nice increase in profit and probably force a lot of long term customers off their rolls with policies that you can't buy anymore. Which means they will no longer have to service policies that are unprofitable for them but they were OK when they wrote them long ago. Sound like something Trump would think of. I've had this policy since 1995. I guess this is a no big deal since from what I read from consumer sites J.H. usually find a way to delay payment for as long as possible or deny them all together.
Updated on Dec 22, 2017: We just received our invoice for the January 2018 payment. They have begun billing in six month increments. Which means our $161.02 monthly payment goes to $966.12. That's the minimum payment due. We bought our policy back in 1990 like a lot of other people. Those policies are great and they are no longer available. Which means that they will be expensive to service if required which is probable due to people living longer and better medical care.
So, John Hancock came up with a brilliant idea: A. Save a lots of money by ending monthly billing. B. Up the ante for policyholders to keep their policy. (A lot of them will not be able to make the payment so, they lose their policy.) To make it simple; We are playing poker and I see you only have $100 so I raise you $1,000. You fold & you're out of the game. It may not be that bad because from the reviews from consumer sites this company is really good at taking your money but good luck when it's time for them to pay.
My dad is 90, my mom is 87. Now it is time for them to use this insurance that they have paid on for years. They have gotten the runaround and now like other that have filed a complaint on here their premiums have gone up where they can not even afford them. People, please do not take out this insurance. Put your money in a saving account where you will be comfortable about knowing the money will be there when you get ready to use it. This insurance is a big joke, and the folks that give it a four or five star must not be near the age to even use it. The agent is no help nor is the company that they got it thru. Please put your money in a safe place where it is FDIC insured as this company has already proven to fail...
I am 80 years old and have carried LTC insurance with JHLIC for over 20 years. Just received notice from JHLIC that my premium will increase 40% over the next 4 years (40% is maximum allowed by the insurance commission) and a promise to expect future increases. The reasons for the increases are "due to people living longer than expected." I can't believe that when I took out the policy that the insurance industry didn't know that life expectancy was on the increase.
I made a contract with JHLIC and paid my premiums on time. Now other party to the contract wants to make continuing coverage financially impossible. Initially, I made a contract with JHLIC, both of us took risks, now they don't like the exposure to their side of the risk, and through pricing want to eliminate their risk. If JHLIC made a bad business decision their company must live with it not try to get out of it through pricing. I am hoping that through a class action suit that the thousands of policy holders will be able to get relief.
My 87 yr old mother paid into this for decades. She has been in an assisted living facility for 3 months and has received $0 because of their constant run around and broken promises. They are purposely doing everything in their power to keep her from her money. Every single time in my over 23+ phone calls I'm given a different story by a different phone rep. Speaking to supervisors is a joke. By their actions I can truly say they have no concern or compassion whatsoever for their customers. They repeatedly send my mother letters making demands that have no merit and then after I spend hours (literally!) clearing their mistakes they say they'll send a retraction letter. When I tell them that my mother can't sleep at night and is in tears over this... No response. Every week since July 1, we've been getting the mantra, "The money will be dispersed within 10 business days."
Just got notice our Long Term Care insurance premiums are rising 15% over next 3 years (5% each year) and there is NOTHING we can do about it (except change to lower coverage at lower premiums). What a "bait and switch"!! Entice with reasonable rates and premiums & now that we are 6 years into paying premiums (significant investment), they gouge us with ridiculous increases and we are stuck! Plus they can and likely will increase our premiums again & again!!
Their explanation was a simple sentence that said the increase was due to "people living longer". While this explanation might make sense if I had purchased lifetime medical coverage, but my LT Care benefits are defined and capped, so whether I live to be 70 or 90, other than the inflation provision, my benefits are still capped. However, if I live longer, they'll actually benefit by getting added years of premium payments from me. With this policy, if we are living longer, I would think our rates should decrease since they will get more premiums for the same capped benefit!
Obviously, the cost of my insurance is NOT increasing to John Hancock, they are just including us in their need/desire to raise added money to cover other areas within their company. I am hoping that someone starts a class action suit against these increases, as I will definitely JUMP IN!!! Warning... when dealing with insurance companies (all types of insurance and annuities) definitely read and ensure the policy specifically states that the premiums can NOT change and they can NOT change/decrease any of the provisions or benefits (our agent said that increases were not likely as this was a defined and capped program).
Unfortunately, I don't think you will find this... so AVOID these policies that allow them to increase your rates at will, or you WILL be sorry!! They will definitely increase your rates & there is nothing you can do! I sure hope the benefits are there when/if we need them, since we are now paying a small fortune for a policy we may not even use.
When I was sixty years old I took out my Long-Term Care Insurance with John Hancock. The effective date was May 03, 2002. John Hancock placed the policy with Fortis Long Term Care which was administered by John Hancock at that time. The Automatic Benefit increase was 5% Simple. Total Premium at that time was $3,423.32. I was told there would be no premium increases and all the other untruths that so many people are now aware of.
Over the years things did change a lot. The inflation rate kept being lowered in order to keep the same Premium Rate or you were offered a higher rate to keep a 5% Simple. Fortis dropped out of the picture and now it is Union Security Insurance Company. Things got really horrid on their last letter filled with more deception (February 27th, 2017). Now the inflation rate to keep your Premium Rate is 0.5% Simple. Or pay almost $7,000.00 dollars a year for 2.4% Simple Inflation.
There is still the chance of further increases no matter what you pay. This was a brilliant premeditated LONG-TERM CARE FRAUD well thought out a long time ago. The end result would be the policy would become worthless based on the fact of their constant reductions and inflation rates in Nursing Homes. They say it is not a discriminatory policy increase. Baloney. They know the ages of every single group of policyholders. I am waiting for the Class Action Suit. For now my choice is to take the lower 0.5% Simple just to have some coverage. I have NEVER had a claim in these 16 years and I pray I never do. All I can say is I hope some brave Law Firm beats their brains in.
John Hancock helped my family when we were in need through my dad's long term care policy with them. We moved him into an assisted living facility in April 2016, filed the claim with John Hancock, and it was approved in a timely manner. They sent a nurse out to talk to my dad and did a much more thorough investigation than another insurance company that he had a long term care policy with. They also always paid what they said they would and were very professional. I highly recommend them!
John Hancock LTC Insurance is one of the biggest scams out there. Please avoid at all costs in that it will only succeed in depleting your cash savings. They are great in accepting premiums but when claims against the policy are filed they give nothing but the runaround. We filed a claim on behalf of my mother who was diagnosed with Alzheimer disease. They sent a nurse (debatable) to examine my mother and after 20 minutes of testing determined that she was fine. Not sure what the test were that she was given but this diagnosis was completely ludicrous.
My mom doesn't know what day it is, what medications she is on, when to take her medication even when put out in front of her. Will not eat unless meals are prepared for her. She has very little sense of rational thinking. John Hancock continues to delay, delay, delay its ruling until they notify us that we must re-submit another claim because time has run out. This has been going on for about a year. What a rip-off organization.
Always helpful when I call in to talk with a representative. My questions were answered promptly and they give me what I need to feel secure and confident about the future. If I had to go with another provider I am not sure I could get the same coverage at the price. Also, the coverage is great. They provide a great value at an affordable price. I can't say the same for some of the other providers I have used in the past.
The agents are very knowledgeable and friendly. They are eager to assist and always willing to go the extra mile to help and make sure that all questions have been answered. They provide a wide range of coverage and plans, making it easy to choose which best fits your personal budget, needs and goals. I'm happy to have the knowledge and ability to know that no matter what happens I am secure and am able to face whatever comes at me ahead in my life. It makes me feel comforted that my family has the security of knowing that if anything happens that they are not going to adversely affected and that security is worth the world to me.
They have the best customer service anywhere. They are very knowledgeable nice, and try to help you any way they possibly can. Very willing to answers all questions. They also explain every possible scenario with you, and always asking if you want certain things you don't think of at the time. We went over several different policies and the people were always patient when I didn't understand each policy and new things I've never heard of. I have the best coverage they offer, and the value is excellent. Wouldn't want to deal with anybody else. Money is not easy to come by and they realize and care about you and finances.
The customer service has been satisfactory and well worth the money. Friendly employees and very helpful when I've needed to talk to them. They have a Good range of policy options used to meet many wide ranges of people and options. They are tailored to meet the needs of the one applying. My long term care coverage is great and covers a lot. It meets my needs and I'm often updated on new options to add to my coverage as they appear. It is well worth what I pay since it covers a lot as compared to other company's values side by side.
Rates were never supposed to have gone up, but they have gone up. Communication has been only one way - from company by letter. They had a number of choices and I did find one choice that was acceptable to me. Coverage choices included a yearly inflation increase that was supposed to be included in the cost. They just offered me the choice to pay more to maintain the 5 percent annual inflation I had or to accept a 3.5 percent inflation rate increase every year at the same price I have been paying. The most value is peace of mind, since long-term care can be very expensive. My mother paid $3,500 a month to stay in an assisted living facility that is not covered by medicare or health insurance.
The customer service at this company is very good. They help you with all your needs and answer whatever questions you and your family may have. It is a great company to be there for you and your family when you need them most. This company had the best policies and the best coverage. They help you through the processes of policy options and gives you more options than you can ever imagine. They protect you from everything and is there to answer whatever questions you may have or not have. You may choose from a variety of things, and they help you through the process of choosing what products are right and wrong for you. The value is very cool and so worth it.
John Hancock is a reliable corporation that has excellent customer service. There are many ways to contact their company where the staff will treat you well and answer your questions. There is no question too small. Many options allow you to customize your policy to suit your insurance needs. From low to high end. The long-term care insurance coverage allow peace of mind so that you or your loved ones do not have to worry if and when your health declines. It was an excellent decision to get covered. Price for long-term coverage is high so to get it lowered through insurance is a great relief when the time comes. It's cheaper than the hospital or hospice care. That is for sure.
I was pleased with our customer service representative. They were very clear and concise and helped us with a concern we had. We were very happy with all the policy options we were given in our long term life insurance policy. We felt we would be adequately covered by the coverage of our long term life insurance policy. Our family would feel comfortable and will be helped out by our policy also so we feel satisfied. It was not the cheapest policy but we will pay more for quality so it was satisfactory. We will always pay more as long as we are happy about the service we are getting.
Customer service was fast, competent, efficient, friendly. No waiting just good service quality. Responsive, awesome. Could not ask for a better company's employees. Wish had policies where you could borrow for colleges or a new car for graduation but still a good life insurance company. Nice affordable price. Good quality rates that don't go up. At 10 dollars a week is a great family rate with 100 thousand on me, fifty thousand on wife and thirty on my child. Is a wonderful deal for the price. A wonderful long term insurance and well enough to take care of my family no matter the circumstances. Quality at its finest. A really great deal for the price and I am well pleased with the quality of this great company.
Getting a hold of the company to set up my policy was excellent. I immediately got a live person after one menu option. They had a very large amount of policy options and were able to cater the policies directly to us. No matter who you are, they could create a great policy for you and not have to empty your wallet. They have a really great coverage plan. Once they go over everything with you while you are setting up the policy, you can really see how far the coverage spreads out. We got a really great deal with the policy that we selected, and it is a very comprehensive one as well.
The only difference between all of the 1-star reviews is the amount of money we've lost to these bloodsuckers (I've thrown $23,000 down the John Hancock toilet). Why doesn't the insurance commissioner monitor this obviously fraudulent actor? I suspect it's because they are in bed with the insurance companies. So what else is new? The concept of "consumer protection" no longer exists. It's just a fairy tale we have all been brought up with... this "great nation" is now officially a sewer.
Customer service was pleasant to work with, very reliable and reasonably quick. My husband used them for a claim at work and found them very helpful which was good. He likes things done fast so he was very satisfied. Their long-term care coverage and policy options are very reasonable so my husband was very happy with that and he is a hard man to make happy. Their value is also very good for my husband to still keep it cause he's a penny pincher so value is one thing that has to be a great thing for him.
Please find enclosed in your form envelope 145-362 (rev 1/11). A void check which you request, Also find includes a void deposit slip, which I sent via fax to show the deposit slip, has the exact same information as the canceled check. The point being, that when I talked to one of your support staff last week, I was informed that a deposit slip was acceptable, which leads me to believe that your support unit is not knowledgeable about your procedures. I spent several hours dealing with your robotic phone system trying to get thru to a human only to be put on hold several time and transferred to different department only to get a nebulous answer that turned out to be worthless, and a complete wast of my time, when all I wanted was to transfer banking accounts, from one already set up to a new one.
Fact of the matter is, I am very disappointed in your company. Well really upset is more like it. In fact if I could cancel my long term care insurance policy without losing all the money I have put into premiums, I would do just that. If the agent that sold me the LTC policy had given me more information about the plan, and the fact there is no fundamental or intrinsic value to the policy and I would never be able to get the premiums back, I never would have purchased the policy and thrown 15,000 dollar worth of premiums down the toilet. Especially when I get notices years later that my premium rate has been raised and the benefits have been decreased to the point that the amount of time I would be covered and the amount of assistance I will receive is basically worthless considering the restriction put in place for what you will and will not cover.
A 90 year old insured with John Hancock has had multiple claims that apparently are denied. The insured has not received any explanation of benefits from John Hancock. A customer service rep is relaying the message when I called them. Initially we were told the providers were not their approved providers but they allowed us to apply to be approved; we were told later that they had approved the provider but two months later tell us that the provider was not approved. They lied, misled, deceived this insured. Does this website investigate issues or is this just a sounding board?
As most of the reviews I read indicate, JH long term care is difficult at best to deal with in a time of need. And yes, I also feel the same and I am a policy holder. We have endured price increases as others, and believe the selling agent (20 years ago) blatantly lied to us about the policy coverage, no price increases, etc. I am going to contact our state insurance division to see how many complaints have filed against JH before I need to file a claim in the future. At least now I know I'm not the only one with really negative feelings. Unfortunately most of the others were in immediate need of coverage. I'm going to compile every single piece of information, correspondence I have ever received from them and a copy of all payments I have made over the years to them. Maybe I will be prepared. It would great to know if anyone ever heard back from JH!
I'm 52 years old and been paying into LTC for 14 years. I just received another premium rate increase. I started LTC at an early age -- age 38 -- so that I would have a lower premium for life. Since enrolled, I have several price increases and a policy change. I'm not happy. I wish that I could get my money back; I feel as if I have been taken. I may have to drop the policy and lose my money. It is getting too expensive. John Hancock should be audited and sued. I was under the impression at 38 that my premium would stay low because I started the policy at a young age. Wrong! I am so piqued at this scam.
I have been paying into the LTC program for 12 years (about 32,000). A few years ago I had to drop the inflation coverage to 4% to keep the premium the same. NOW to keep my policy the same... they raised the rate to 566.00 a month from 250.00 a month. It feels like I am getting robbed. My premiums went up over two time what they were last years... Beware OPM and John Hancock's long term care policies. Perhaps... there is an agency who can look into this... It sure sounds like a fraudulent move. By the way, OPM had to approve the increase.
John Hancock Long-Term Care Insurance expert review by Matthew Brodsky
John Hancock insures more than 3.5 million policyholders, paying out $2.3 billion each year in claims. The company's A+ rating from A.M. Best lets consumers buy with confidence, as it shows John Hancock's ability to meet its financial obligations.
Easy online premium estimator: Although other companies make you call to find out any information about costs, John Hancock uses an online estimator that can give you a ballpark figure based on age, sex and state of residence.
Compare different options: There is a comprehensive overview of the different packages available and an explanation of the coverage for different tiers.
Lifestyle benefits adjustments available: A policy change doesn't mean you need a new policy. Instead, John Hancock works with your existing policy to adjust coverage levels and premiums to meet your current needs.
Step-by-step online instructions: Buying a policy or filing a claim are easy through John Hancock. They put the instructions right on their website to make the process streamlined for policyholders and new customers.
Solid financial ratings: John Hancock has been rated A+ by A.M. Best, demonstrating their financial health and ability to meet their obligations to policyholders.
Best for: Employers, parents, retirees and the elderly.
Insurance Contributing Editor
Matthew Brodsky is an established expert on insurance, having written hundreds of articles and other pieces of content on the subject, interviewed countless practitioners, and attended dozens of conferences and events. He served as an editor at industry magazine Risk & Insurance for six years.
John Hancock Long-Term Care Insurance Company Information
- Company Name:
- John Hancock Long-Term Care Insurance
- Year Founded:
- John Hancock Safe Access Account, C-5 P.O. Box 790
- Postal Code:
- United States
- (800) 395-1113