NU Online News Service, April 1, 3:43 p.m. – John Hancock Financial Services Inc., Boston, says its John Hancock Life Insurance Company unit is introducing two new long-term care insurance policies, the Essential Care policy and the Custom Care policy.
The Essential Care is a policy that provides solid, standardized, no-frills coverage at a relatively low cost, Hancock says.
The other policy, the Custom Care policy, includes a wide range of built-in features and options.
Built-in features include benefits to help customers stay in their own homes, such as help with paying for transportation to medical appointments and help with modifying homes to accommodate wheelchairs,
Optional features include a zero-day elimination period for home care, home care coverage for partners, and a feature called the FamilyCare Benefit that will allow a customer to cover as many as four relatives using the same policy.
A family could use the option to cover an unmarried partner, a husband, a wife, a son, a daughter, a grandparent, a grandchild, a step-parent, a step-child, or an in-law, Hancock says.