John Hancock Long Term Care Insurance Review

#7 in Long Term Care Insurance

For more than two decades, John Hancock has been recognized as a leading provider of long term care insurance. Part of its success has been credited to its innovative products and excellent customer service. It offers both individual and group long term care insurance that are designed to provide a flexible and effective solution to different long term care needs.   

 

Premium

Premiums for a 3 year maximum benefit period plan for 60 year olds is 50 percent higher compared to the lowest priced offers of equally similar plans reviewed. Benefits for such plans offer $100/ day which is at par with what most companies offer. 

 

Plans Available

 

State Partnership

Yes

Individual

Yes

Non-tax Qualified Policies

Yes

Tax qualified Policies

Yes

 

Types of care covered

Assisted living

Nursing home care

Hospice care

Adult day care centers

Home health care

 

Benefits

Waiting Period – 30, 60, 90 and 180 days

Maximum Benefit Period – 1, 2, 3, 4, 5, 6 and 10 years

Home care – 100 percent cover

 

Elimination periods are serviced based so it might take some time before benefits are received. Service based elimination periods take into account the days when actual professional service was given.

 

Financial Rating

A.M. Best – A+

 

(The company has demonstrated superior overall performance and has a very strong ability to meet its obligations to policyholders over a long period of time.)

 

Summary

John Hancock Long Term Care insurance continues to provide innovative financial products that offer long term care searchers a variety of instruments to choose from. With over two decades of experience, the company has proven itself to be a reliable provider of long term care services. However, premiums remain to be a major concern for bargain hunters.

 

 

Latest Reviews

Start your review for John Hancock Long Term Care Insurance
G
Gina t
John Hancock Long Term Care Insurance review
8/4/2016
My Premium was just hiked 83%. As federal employees we are being ripped off. This not a stable insurance company to invest in. We need Congressional Action to stop this insurance company from ripping off America and federal employees.

G
Gina t
John Hancock Long Term Care Insurance review
8/4/2016
My Premium was just hiked 83%. As federal employees we are being ripped off. This not a stable insurance company to invest in. We need Congressional Action to stop this insurance company from ripping off America and federal employees.

J
j b
Somonauk, Illinois
John Hancock Long Term Care Insurance review
8/1/2016
The ABSOLUTE worse...the ABSOLUTE worse......premiums went up 3x in two years.....last one doubled...ltc was through a government plan......be aware

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Bill L
Alpharetta, Georgia
John Hancock Long Term Care Insurance review
11/17/2015
John Hancock Performance LTC is easily the most expensive LTC policy being marketed today. It has an increasing premium structure if 3% compound inflation is elected. It has premiums that are 200% higher than other companies if 5% compound is elected. Consumers will find much better value through Mass Mutual or Mutual of Omaha. Run far away from this John Hancock policy! Pure junk. Smoke and mirrors marketing with "Flex Credits."