Presented by Leonard Berthelsen I usually try to stay away from being company specific or naming products in my writings, but sometimes you have to do it when something new comes along. New generations of bold thinking are at the doors of LTC planning and design. It really was only a matter of time before LTC carriers used creative thinking and a new fresh approach to product design to offer new insurance products to the marketplace. John Hancock introduced Performance LTC™ to the industry in April and has already seen successes with this new approach. “The boldest ideas of new generations are infused with creative thinking and fresh perspectives, while preserving the finest traditions of the past” is how Hancock is explaining their thinking with this new long term care solution for the agent and their clients. Hancock’s press release states “Performance LTC™ offers a breakthrough design that will provide your clients with many of the features found in a traditional policy, while offering a more predictable customer experience. This new LTC insurance solution allows your clients to make informed decisions about their coverage so it can evolve over time to meet their financial needs and goals.” Anything addressing the rising premium issue of late is welcome news. This is a good start. While it may not be the solution to every issue affecting the buying decision consumers face in considering long term care coverage, it does address several key components. A lower “buy in” point from the beginning along with modest, controlled adjustments over the life of the contract may just reduce some of the risk of heavy rate adjustments later. The policyholder will have a larger stake in how the plan performs over time and that should be welcome news for producers and consumers who have shied away from LTC in recent years because of the uncertainty of the product. Take a look at Hancock’s new product as I think this is a start of the creative thinking and fresh approach we’ve been looking for.