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Bar News - March 23, 2007

NHBA Insurance Offers Long-term Care Insurance


“…they’d have said: a faster horse”


These are the words of Henry Ford in describing what his customers would have wanted had he asked them, prior to the introduction of the Model T. For all products, customer demand is of vital importance but sometimes the customer’s frame of reference is insufficient with respect to product innovation.


The long-term care insurance industry has been in dire need of product innovation but the picture changed this past October when John Hancock launched its newest product, Leading Edge, which features a new compounding inflation feature.


Here is how it works: in contrast to the common 5 percent compound inflation feature where benefits increase every year by a fixed percentage (5 percent), the new feature links benefits to the Consumer Price Index (CPI). When you purchase a Leading Edge policy, your benefits are linked to the most recently available CPI and are then automatically adjusted accordingly every 12 months; somewhat similar to the purchase of stocks, bonds and mutual funds. One difference is that should the CPI decrease over a 12-month period, which most recently happened in 1955, the benefits remain level.


This feature is revolutionary and particularly so because premiums are significantly lower compared to existing policies with similar benefits and 5 percent compound. The premium advantage of Leading Edge is the greater the younger you are and can be as much as 35 percent for a 40-year-old.


If you’re interested in learning more about this new product or other products offered through NHBA Insurance Agency, contact Sue Morand at 866-642-2292 or via e-mail at





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