Long Term Care Insurance
John Hancock Number One in Long-Term-Care Sales
By Matt Ackermann
ĤAdvertisementJohn Hancock Life Insurance Co. sold more long-term-care insurance than any other carrier last year, according to a Limra International
survey.
The Boston unit of Manulife Financial Corp. sold more than 100,000 long-term policies, which resulted in $197 million in total premium, across its retail and group long-term-care insurance businesses.
The company had double-digit year-over-year growth in new premium sold and was the top carrier by number of new policies sold.
John Hancock's retail business had the highest growth rate of the top 10
carriers of long-term-care insurance, with new premium growing 28%, versus the industry average of 3%, according to the Limra survey, which was released Monday.
In its group long-term-care business, John
Hancock had the highest annual growth rate of the top five carriers, with new sales premium 31%. The industry average was 8%.
It added around 90 clients to its group roster, resulting in a record sales year
for the company and a share of better than 35% in the group market.
John Hancock has more than 1 million long-term-care clients and $1.4 billion of in-force premiums.
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