I purchased a Long-Term Care policy from John Hancock in 1999. The benefits for nursing home expenses increase $4.00 a day every year of the policy. That was part of the contract.in 2010 the premium increased 13%.in 2012 the premium increased 46%. The State of Kansas Insurance regulators stated the underwriters did not count on the amount of use of the policies as experienced by the insurance companies. To me it is more of a bait and switch. After ten plus years of paying premiums of $1520.00 and $1724.00 per year I believe John Hancock believes they have a captured group of policy holders. The new premium is over $2500.00 Rates can go up again and again. I no longer have faith in the company and do not wish to do business with them but I believe I am entitled to some compensation for my past premium investment. Agent has not returned my phone calls.
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