As a companion study to our annual Long Term Care Insurance survey, conducted in conjunction with the American Association for Long-Term Care Insurance (AALTCI), we polled more than 700 agents nationwide on which carriers best meet their needs in a variety of categories. Who's best at keeping premiums stable? Who gives you the best marketing support? Who offers the least complicated LTCI products?
The list of companies represented was derived from a ranking of the top LTCI carriers in the nation, provided by AALTCI. We've presented the top five companies in each category, as well as a list of insurers that respondents are contracted with and those they write the majority of their business through.
Respondents were asked to rank companies on the affordability of their LTCI policies, stability of their premiums, underwriting support, simplicity of LTCI products, leads and prospecting assistance, product and sales training, marketing and advertising promotion, marketing and point-of-sale material, LTCI product features, and benefits. They were also asked to rank companies based on their overall satisfaction.
In each question, respondents were also asked to rank only those companies they were appointed with.
Allianz Life, Genworth Financial, and John Hancock are the standouts, with all three falling into the top three spots for all categories, including company appointments and which company they write the most business through. MetLife consistently scored within the top five companies, and Mutual of Omaha also made a good showing in the top five.
Seventy-nine percent of agents surveyed were independent agents, and 21 percent were captive or semi-captive agents. Respondents who did not fit either of those categories were filtered from the study so their answers did not appear.
See how your appointed companies ranked in the study, as well as how their competitors fared.
For questions on this and other studies, call 800-933-9449 or email ASJeditor@AgentMediaCorp.com.
