“Manulife exits the Long Term Care insurance market,” by Kate McCaffery, The Insurance and Investment Journal

“Following in the footsteps of its U.S. subsidiary, Manulife Financial announced that it will cease selling new individual Long Term Care (LTC) insurance policies in Canada as of Nov. 30. The announcement, made via the company’s RepSource website, comes one year after it announced that John Hancock Life Insurance Co. would discontinue the sale of its own LTC policies in the United States. The company says the move will not impact any in-force individual disability or critical illness policies which include long term care features and options, or any other in-force LivingCare policies.”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

Canadians needs private LTC insurance even more than the U.S. consumers and for the same reason, too much damaging government interference in the LTC financing market. And they’re losing it for the same reason.

Manulife exits the Long Term Care insurance market

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#long-term
#goldencareagent