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Immediate Changes to Applications with LTC Riders in Washington State

With new long-term care (LTC) legislation in Washington state, John Hancock is seeing an increase in demand for permanent insurance with an LTC rider, particularly at very low face amounts. To best meet this demand and to help ensure these policies are being purchased for the purpose of lasting life insurance and LTC protection, John Hancock are implementing the following changes:

Increased minimum face amount:

Effective immediately, the minimum face amount for all John Hancock applications that include the LTC rider in Washington will increase to $250,000. Any Washington state application with an LTC rider and a face amount below $250,000 will no longer be accepted. When the LTC rider is not included on a policy, the minimum face amount will remain at $50,000 across our single-life, permanent products.

Illustration updates:

Also effective immediately, the LTC rider will not be available on JH Illustrator at any face amount in Washington until July 19, 2021. At that time JH Illustrator will be updated so that the rider is available for face amounts of $250,000 or more. Until July 19, if you wish to run an illustration with the LTC rider for a Washington policy with a minimum face amount of $250,000 or more, please contact John Hancock.

Please note: these changes only apply in Washington state with the LTC rider. There are no changes to minimum face amount requirements in other states.