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Hancock Group LTC Pursues Education Market

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NU Online News Service, March 25, 2005, 2:35 p.m. EST

John Hancock’s group long term care insurance unit announced it has signed its 24th higher education institution, Boston College, as a client.[@@]

Hancock’s GLTC division, which has been in business 17 years, claims to have had particular success in the university and college market.

“Universities are employers, but they operate quite differently from our other employer clients,” says Laura Moore, vice president, group long term care insurance.

Moore says selling to a university often requires a carrier to collaborate with a consultant and a committee of people from many different parts of the school.

John Hancock, a unit of Manulife Financial Corporation, Toronto, says it has more than 800,000 LTC clients overall and $1.1 billion of in-force premium.