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Hancock Cuts Multi-Life LTC Participation Minimum To 10

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An insurer is trying to increase sales of long term care insurance through employee benefit programs.

John Hancock Life Insurance Company, Boston, a unit of Manulife Financial Corp., Toronto, says it is aiming its new Corporate Solutions program at agents and others who serve employers with 10 to 3,000 employees.

The “multi-life” program is designed for agents who want to sell many individual LTC insurance policies to employees at the same time, Hancock says.

Program features include an LTC insurance policy with automatic compound inflation linked to the Consumer Price Index: a policy that permits insureds to use benefits to pay for services from caregivers who are not licensed, and preferred pricing discounts for individuals at law firms, accounting firms, and other firms in industries with good risk profiles.

The program also offers true split billing, and the minimum participation requirement can be as low as 10 lives, Hancock says.

Hancock has received the licenses it needs to offer the program in 39 states.


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