Supporting Customers Through Long-Term Care Events Retirement comes with endless possibilities, but also added risks. The more we age, the more likely we are to need long-term care. One way for your clients to continue to be there for their loved ones is to have a plan. In case of a long-term care event, your customers can make sure not only that they will have the means to pay for it, but that their loved ones will have the support they need. Help is Only One Phone Call Away Our Care Benefit Concierge makes it easy for a power of
Read More
Streamlining Electronic Sales with eApp
New enhancements to our eApp process are making it easier for you to submit new business with OneAmerica®. These new features and deep-dive resources are built to improve your virtual workspace experience as you continue to grow your business. They add value to your time while developing efficiencies in our current virtual environment. With eApp you can: Obtain signatures electronically. Run illustrations to prefill applications. Automatically order LTCG tele-interview. Eliminate application errors, no NIGOs. Reduce processing time by two to five days. Place your order with one click! No more calls for tele-interview orders! The new auto-order button automatically
Read More
Care Solutions News, March 2023
Operations updates OneAmerica Closed on Good Friday OneAmerica will be closed on Friday, April 7, for the Good Friday holiday. Normal operations will resume on Monday, April 10. Process Solutions Based on your/client feedback, two enhancements were made to the Asset Care eApp process, to provide a new online option to complete the Part 2 questions and to help identify underwriting program earlier. In addition to the release above, here’s an updated eApp process video. It’s Almost Tax Time Annuity Care II is now offering more leverage on client dollars with activation of a 6-year Continuation of Benefits
Read More
The Pension Protection Act and Long-Term Care FAQs
The Pension Protection Act and Long-Term Care FAQs The Pension Protection Act (PPA) deals with changes and reforms to pension governance, specifically with annuities, long-term care and new tax advantages. What does this mean for annuities? Cash value withdrawals from eligible annuity contracts for qualifying long-term care (LTC) expenses or qualifying long-term care insurance premiums are no longer taxable income. Can regular annuity withdrawals for LTC expenses be treated as tax-free distributions? An annuity policy must include language which makes it qualifying. This would preclude a “regular annuity” (an annuity with standard free withdrawal) from receiving the benefits of the
Read More
GILICO: Mid-March Rate Updates
With treasuries and interest rates trending downward following recent banking industry events and related market impacts, it is prudent for Guaranty Income to make appropriate rate adjustments consistent with lower market interest rates. As always, we remain focused on delivering competitive and sustainable products over the long term. Applications must be received no later than 3 p.m. Central Time on Friday, March 17 to hold the higher rate, and monies/transfers/exchanges must be received within 45 calendar days. > Mid-March Rates #goldencareagent #gilico
Read More
Don’t Miss this Important Portal News
New Advisor Portal is Coming Soon! Guaranty Income Life (GILICO) is preparing to roll out new advisor and policyholder portals in the coming weeks. With this enhancement, you will only need to sign on to a single portal to gain access to both presales tools and your clients’ policy information. This new advisor portal will provide access to: Our FireLight eApp tool, if your IMO does not already have an instance of FireLight. A link to client policy information from the advisor landing page. No need to go to a second login page. Access to presales materials and illustration
Read More
OneAmerica — Strong and Stable
DENNIS MARTIN, PRESIDENT, INDIVIDUAL LIFE AND FINANCIAL SERVICES ANDREW MICHIE, CHIEF FINANCIAL OFFICER Over the last few days, you may have seen news reports about Silicon Valley Bank and resulting concern about the stability of the banking sector. Actions by the Federal Reserve and the U.S. Treasury have been swift, but this remains a developing situation. In case you’re wondering if OneAmerica® might be impacted, we want to assure you that: OneAmerica has zero direct exposure to Silicon Valley Bank or to Signature Bank of New York. OneAmerica has exceptional capital strength and diverse sources of liquidity. OneAmerica continues to
Read More
CareMatters COVID guidelines have been updated
CareMatters COVID guidelines have been updated Proposed Insureds with a history of COVID with no hospitalization, no tobacco use, maximum BMI of 35, and no co-morbid conditions may be able to be considered without medical records for CareMatters after 1 month of full recovery if age 49 or younger, and after 2 months of full recovery if age 50 or older. Proposed Insureds who do not meet the above and have not been hospitalized will be postponed until 3 months of full recovery is achieved and is demonstrated by a documented visit post-COVID in medical records provided at no expense
Read More
Asset Care annuity withholding process update due to IRS guidelines
New withholding process for Asset Care annuities effective 12/10/2022 Jan. 1, 2023 in all states, IRS guidelines around taxable distributions from retirement plans and annuities will change, requiring a modification to our application process affecting our Asset Care Annuity Funding Whole Life option, as well as Asset-Care II/III (California). Starting 12/10/2022, this guideline change will necessitate collection of a new “Statement of Understanding – Withholding” form as well as IRS Form W-4P to indicate the policyholder’s future withholding preference prior to issue. Please view the video above to learn about this process change. If you have any additional questions,
Read More
CareForward now available on Stratecision comparison
CareForward is now on StrateCision For years, Stratecision has set the standard for LTCi comparison tools. You can now find Thrivent’s linked-benefit solution, CareForward, in Stratecision’s ComboCompare. With ComboCompare, you can: Get quotes for a single client or a couple, for the current Life/LTC hybrid plans Create single or comparative proposals, up to 6 on a page See how benefits compare for a fixed premium, or premium comparisons for a chosen benefit See Face Amount/Death Benefit for your choice of premium or monthly LTC benefit See annual and total premium, total and monthly benefit, and benefits at age 80 Show
Read More
