Multi-state, Internet Based LTCi specialists

Comment

Comment by Steve Eads, CLU, CLTC on April 11, 2012 at 1:35pm

Hello group!  Nice creation, Scott.  Guess there just aren't many of us "Internet-Based" / "Lead Junkies" out there any longer, huh?  As I've said before, I really like your organic web set-up.  Question, is there a reason you haven't added every states to your efforts?

Comment by Scott A Olson on March 17, 2009 at 12:33am

Scott,

Quick question. I'm still in awe of that 20% dividend payment. That's just remarkable, especially when compared to NY Life. NY Life's dividend was equal to about 1% of the LTCi premium. But, when I crunch the numbers, the only way that that 20% dividend adds up is if NW Mutual has had a LOT of people cancel their policies. Has that been the case? Has NWM had lots of policy cancellations in the past 3 years?

Comment by Scott A Olson on March 14, 2009 at 1:22pm

So, you're saying that a 20% dividend means that, on average, a policyholder with a $5,000 annual premium got a $1,000 dividend at the end of the year?

Comment by Scott N Rudnick on March 14, 2009 at 1:01pm

Exactly it will vary we are a Mutual Company and what that means is we paid less in claims than we expected so we refunded the difference.Northwestern is owned by the policy Holders any new product features added are retroactive at no fee.Ther dividend will vary from year to year but we entered the Market twice as costly in late 1998 and have kept our prices consistent and others that appeared cheaper have been hiking their rates while we are paying a little back so we will not have overcharged so to speak

Comment by Scott A Olson on March 14, 2009 at 12:38pm

a 20% dividend. That's amazing. how is that calculated? If someone's LTCi premium is $5,000 per year, does that mean that they were refunded $1,000 at the end of the year?

Comment by Scott N Rudnick on March 14, 2009 at 12:27pm

I am doing both prefer the face to face but understand the importance of helping people in remote locations and will be registering in the state of Alaska shortly CT and Alaska will be my main 2 states except for referrals in NY NJ I dont expect to really help people in other states I can refer business out if I feel the LTC Agent is with a top tier firm that will address the needs of those people and make certain the policy is with a top tier firm Rated AA or better ;my biggest fear is the companies people buy through are raising there rates last year hancock genworth metlife almost across the board increased rates by 10-35 percent on their LTC policies ;With Northwestern rated AAA by and AA+ for instance we pay a 20 percent dividend on our policies and the closest competitor is NY Life with less than a 5 percent dividend.I am very concerned of the fact that people that pay into a policy for years may not be able to afford what at one time seemed to be a great deal and can no longer afford the premiums.It is happening!

Comment by Scott A Olson on March 14, 2009 at 12:02pm

PS... I like the hat.

Comment by Scott A Olson on March 14, 2009 at 12:02pm

it's for agents who primarily sell LTCi over the internet, not face to face.

Comment by Scott N Rudnick on March 14, 2009 at 12:16am

Please tell me what the goal or objective of this group is?

Comment by Irena Davison on March 9, 2009 at 8:13pm

Hi
I live in WA and I am also affiliated with LTC Financial Partners.
The shares opportunity is definitely unique and exciting. We received our annual divident checks last week - our divident payout was 10% over last year! Definitely heading in the right direction.
Scott - are you independent?
We are always excited to have more talanted people on the team. That's where the concept of the Partnership really makes a difference :)

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