John Hancock: Simpler LTC rider elimination period for easier planning


John Hancock has changed the way the elimination period is satisfied on the most recent version of their Long-Term Care (LTC) rider. Now, instead of requiring 100 service days before LTC benefits are payable, clients can simply:

•             Wait just 90 calendar days from the day they are certified as chronically ill

•             Count every day, whether or not they receive LTC services

What's more, there's no impact to pricing due to this change — the LTCR '18 rates will remain the same!

This enhancement is just one more way John Hancock is making their long-term care solution easier for your clients to plan — and for you to explain how it can help them protect their families and their finances.

Transition details and state approvals

Beginning on December 7, 2020, all new and pending applications with LTCR '18 will be issued with an endorsement that revises the method for satisfying the elimination period. It has been approved in all states except CA, MT and NY, with approvals pending in DC, FL and NJ (their updated elimination-period definition is being added to existing state filings). 

After launch, inforce LTCR '18 customers will receive an endorsement in the mail. Details to follow.

Please refer to the LTC Rider Strengths and Features file below for additional information about the rider.