John Hancock Life Insurance Company has started selling Florida long term care insurance policies that qualify for the Florida LTC partnership program.
The partnership program will permit consumers who buy and exhaust private LTC insurance benefits to keep more assets if they end up using Medicaid nursing home benefits.
In Florida, policyholders can protect one dollar in assets for each dollar of qualified private coverage purchased, according to Hancock, Boston, a unit of Manulife Financial Corp., Toronto.