John Hancock sold more long term care policies in 2007 than any other carrier. John Hancock, a Manulife Financial Corporation company, which trades as ‘MFC’ on the NYSE, announced that 2007 was a bumper year for their long term care business. With an individual growth rate higher than the next 10 competitors, the already large John Hancock is really starting to pull ahead of many of their competitors.
More than 100,000 policies were issued by John Hancock alone in 2007. The entire long-term care insurance industry is growing quickly, as baby boomers at LTC insurance to their financial portfolios. In the case of John Hancock, premiums grew by 28%, compared to a 3% industry-wide growth.
We think that one important driver in the growth for Hancock is the strength of their latest approved long term care product, Custom-Care II. Offering a bevy of benefits to consumers that other carriers may not offer, CC2 is an innovative product that is offered in most states. In fact, Florida is one of the last states to still offer the predecessor long term care product, Custom Care.
Manulife Financial can be found on the Internet at http://www.manulife.com.
