John Hancock executive talks about LTCI rates

Long-term care (LTC) planners talk to consumers about the recent increases in long-term care insurance (LTCI) rates every working day.

Michael Doughty, president of John Hancock Insurance, demonstrated his approach to that conversation recently in New York, at an insurance conference organized by Standard & Poor’s Ratings Services.

Doughty appeared on a panel with Li Cheng, a skeptical S&P senior director; Neal Freedman, a skeptical S&P analyst; and Jeffrey Coutts, the corporate treasurer at Lincoln Financial Group Inc., who was sympathetic but was there to talk about the benefits of using LTC built on a life insurance chassis, rather than pure stand-alone long-term care insurance (LTCI) product.