The countdown to year end is on, and our focus will be on helping you achieve a strong finish. For cases you are targeting to include in your 2016 sales results, please note the key submission deadlines outlined below. The following deadlines will ensure completion of underwriting, issue and case payment by December 30, 2016. New Business and Underwriting Deadlines Submission Details December 9 Submission of all outstanding underwriting and administrative requirements on your pending cases to LTC New Business. December 21 All checks to put policies in force received in LTC New Business. If you have questions,
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Reminder: Producer Screening Requirements
To meet state and federal regulations and the Genworth life insurance companies’ standards, a Producer Information and Appointment Form (PIF) version 4/13/09 or after is required for producers seeking an appointment or submitting new business, even if already appointed. PIF versions dated 4/13/09 and after include execution, certification, and acknowledgement of the following items: Producer Agreement Disclosure of Intent to Obtain Consumer Reports Guide to Ethical Market Conduct Unless there are changes to the answers to the business practice questions included in the PIF, or otherwise requested by Genworth, this PIF will be good for 10 years. Producers must notify
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Genworth Financial Announces Third Quarter 2016 Results
11/03/16 “Genworth Financial, Inc. (NYSE: GNW) today reported results for the period ended September 30, 2016. The company reported a net loss of $380 million, or $0.76 per diluted share, in the third quarter of 2016, compared with a net loss of $284 million, or $0.57 per diluted share, in the third quarter of 2015. The net operating loss for the third quarter of 2016 was $405 million, or $0.81 per diluted share, compared with net operating income of $64 million, or $0.13 per diluted share, in the third quarter of 2015. The net loss and net operating loss included
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Genworth and Industry News.
GoldenCare Newsletter | November 7, 2016 Edition
In this GoldenCare Newsletter Edition From GoldenCare: In case you missed it: we have kicked off training on Minnesota Life/Securian’s CareShield and demonstrations on their E-App and Software. This new product provides both a simplified option for guaranteed premium life insurance protection and a solution for your clients’ future care needs. Also, take advantage of the launch promo and earn: A $300 Visa® gift card for 2 paid CareShield applications, OR A $500 Visa® gift card for 3 paid CareShield applications We have added CareShield to our 3-in-1 Promotion! Get your apps in cash and a chance at the big
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“Aging alone: If you’re a single, childless senior who has your back?,” by Michelle Singletary, Washington Post
“There are some useful tips in Painter’s report. Check them out. Because many people think their long-term care plan is just having money or a long-term care insurance policy. But who will manage getting the benefits under the insurance plan if you can’t? Who do you trust to help with your finances? Who will oversee both your money and care if you’re incapacitated?” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Does LTCI have your six? Aging alone: If you’re a single, childless senior who has your back? #goldencareagent
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Bank Draft Authorization Form and Procedures
The Bank Draft Authorization Forms and procedures for completing the forms are critical steps in getting cases quickly and accurately drafted, credited for payment and issued. Some of the key points of this process are listed below. Bank Draft Authorization Forms The Bank Draft Authorization forms can be found in Forms Depot and are also included in the application packets. Bank Draft Authorization Form Number: AGLC108493—2015 Rev0516 At issue, if the bank draft form has been received and there are no other outstanding requirements, the initial premium will be drafted automatically if the following conditions are met: The premium amount
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“CNO and CNA open blinds on LTCI performance,” by Allison Bell, LifeHealthPRO
“One insurer with an active long-term care insurance unit and one with a large closed block of long-term care insurance business have given a little information about their operations in recent earnings reports.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Some interesting tidbits. CNO and CNA open blinds on LTCI performance #goldencareagent
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End of Year Pay Schedule
The holidays are quickly approaching, find out end of year pay schedule below for all of the important end-of-year dates. Mutual of Omaha and its affiliates (United of Omaha, Companion Life Insurance Company, and United World) will be closed on the following days: Monday, December 26, 2016 for the Christmas Holiday Monday, January 2, 2017 for the New Year’s Day Holiday The last pay cutoff in 2016 is December 27 for Life and December 23 for Health. This is the last pay cycle to be paid in 2016. Weekly and holiday pay schedules are available on SPA – Go to
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Omaha’s Field Assistance Center Can Help
We’re very excited to be in the midst of our busiest time for Med supp new business. All of our business areas are ready to go – especially our Underwriting area. As application volume spikes significantly, including with our e-Application tool, there may be times in which your office and/or agents are having technical difficulties with our technologies (i.e. logging in to SPA, quotes, e-Apps, case status, etc.). If you find this to be the situation, we ask that you please call our Field Assistance Center (FAC). They are open 24/7 – including weekends. Calling them is the fastest way
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“Majority of Consumers Nearing or in Retirement Have Not Planned for Long-Term Care,” Advisor Magazine
“The Lincoln study surveyed 500 people between the ages of 40-70, and found that of those with a financial advisor, only 45 percent have discussed long-term care with their advisor, and only few were aware of the wide range of solutions available to help address the potential financial impact of long-term care. … For additional findings from Lincoln’s “2016 Long-Term Awareness Study,” please view this presentation at Lincoln’s website.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Not exactly news, but further evidence of financial advisors’ remissness regarding LTC risk and cost. Majority of Consumers Nearing
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