Insurer looks to roll back payout, withdrawal percentages on Highest Daily Lifetime 6 Plus product; puny interest rates to blame?
MetLife Inc.'s announcement last week that it will stop writing new long-term-care insurance shocked advisers, raising fears that rates will rise for existing blocks of business and that other carriers will exit the industry.
State insurance regulators are not likely to approve John Hancock's recently announced long-term-care rate hikes, denting third-quarter profits for the insurer's parent company, Manulife Financial Corp., according to analysts.
Average premium for existing policyholders could go up by 40%; 'lot of explaining' to do
The costs of long-term-care continue to rise, although at a slower pace than before the economic slowdown as nursing homes and home health care providers reduce charges.
The public will reap a profit as the U.S. government sells off the remainder of its holdings in American International Group Inc., chief executive Robert H. Benmosche said last week
Settlement provider lowers advertised rate of return from 12% to 7%; litigation ahead?
A machinery manufacturer last week sued New York Life Insurance Co., claiming it had lost money in variable universal life policies that were invested in funds linked to the Madoff scandal. Experts say similar suits are likely to follow.
Retirement plan administrator says insurance group ran a pay-to-be-on-the-platform scheme
Expanded definition of 'fiduciary' likely to hamstring funds that work with plan sponsors and participants.
