Products April 7, 2009

John Hancock Reduces Participation Requirement for LTC Insurance Program

April 7, 2009 (PLANSPONSOR.com) - John Hancock Life Insurance Company has reduced the minimum participation requirement of employer-funded cases for its Corporate Solutions multi-life long-term care (LTC) insurance program from 10 to seven eligible employees.
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Designed for small to mid-sized employers with seven to 3,000 employees, the Corporate Solutions program allows for a5% group discount and simplified underwriting for eligible employees and employer funded spouse/partners, according to a press release. Some employers may also qualify for an additional 15% preferred discount.

The program alsoprovides access to John Hancock’s Leading Edge LTC insurance product. The plan works well for businesses interested in executive carve-out and core plus buyup plans, the announcement said. Corporate Solutions is a turnkey program that is designed to be supported by local distributors.

“By reducing the minimum number of lives to seven employees, for employer-funded cases, we’re better meeting the needs of our distribution partners by creating new sales opportunities in this growing market,” said Joseph Catalano, senior vice president of Distribution, John Hancock Long-Term Care Insurance, in the announcement.

More information is available at www.johnhancock.com .

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