Omaha: How Your LTCi Policies Get Issued

Wednesday, May 24th 2:00 p.m. CT LTC Operations: How Policies Get Issued… a Behind-the-Scenes Look What happens after your client agrees to purchase a policy? Learn what items you should include with the app, what you can expect from the underwriting team and key milestones in the underwriting process. You can register for the webinar, add it to your calendar or both. On the day of the webinar, simply click the link from the confirmation email or calendar entry. There is no number to dial, just listen through your laptop or PC speakers or headphones. Add to calendar: Outlook  |
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

Good News | Ford Mustang Winner Announced

Announcing the Grand Prize Winner of 2016’s 3-in-1 Promotion! In 2016, we ran a year-long promotion rewarding agents writing Mutual of Omaha’s long-term care insurance. In addition, those writing business were also entered into a Grand Prize drawing for the keys to a brand new Ford Mustang! All Mutual of Omaha 2016 business has been finalized… Congratulations To Our Grand Prize Winner! Gail S. — Illinois! #goldencareagent #omaha  
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Categories: GoldenCare News and Mutual of Omaha (& Affiliates).

In-Force Rate Action Announcement: Washington (Privileged Choice® and Classic Select®)

As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. In September 2013, we began to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. Subsequently, we received approval for, and implemented, a 12.8% premium increase in Washington. At the time, a larger increase was justified, based on projected experience, but rate stability requirements prevented us from requesting the fully justified amount. In 2016, we began requesting the
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Maine (Privileged Choice® and Classic Select®)

As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. In September 2013, we began to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. Subsequently, we received approval for, and implemented, a 12.8% premium increase in Maine. At the time, a larger increase was justified, based on projected experience, but rate stability requirements prevented us from requesting the fully justified amount. In 2016, we began requesting the
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Arizona (Pre-PCS, PCS II, Choice 1)

In August 2012, we began seeking premium rate increases on certain blocks of comprehensive long term care insurance policies, including Pre-PCS, PCS 1, PCS II, and Choice 1. During the course of 2012-2014, we implemented rate increases on these blocks of business. In some states, the full requested increase was not received. Genworth began submitting requests in these states during the second half of 2014. Arizona has now allowed our requested increase, and the details of the implementation of this premium change can be found within the announcement. Servicing agents will receive a list of their impacted policyholders in these
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Categories: Genworth, Industry News, and Long-Term Care.

Break from the pack. Drive more sales

Your Business is About to Get a Whole Lot Healthier Transamerica has adopted a new brand that exists in this simple message: Wealth and health are inextricably linked. So, what does this mean for financial professionals like you? Build Your Value By Connecting Wealth + Health Offering holistic guidance that considers everything happening in a person’s life means offering a better value. Linking wealth and health allows you to have an ongoing discussion with clients while helping them understand how different aspects of their health can impact their long-term financial future. When people were asked what they want to have
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Categories: Industry News, Long-Term Care, and Transamerica.

Form Required August 1, Model Replacement Form

Model Replacement Form Required Aug. 1, 2017 Effective August 1, 2017, NGL will be following the state-mandated Model Replacement rule for the state in which you are licensed. Your state’s Model Replacement rule required a form to be submitted with applications whenever a proposed insured states they have existing insurance coverage, even if they don’t plan on replacing that coverage. Two simple questions are asked on the form: Are you considering discontinuing making premium payments, surrendering, forfeiting, assigning to the insurer, or otherwise terminating your existing policy or contract?  O YES  /  O NO Are you considering using funds from
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Categories: Industry News, Long-Term Care, and National Guardian Life.

“What We Know for Sure About In-Retirement Withdrawal Rates,” by Christine Benz, Morningstar

“How retirees expect their lifestyles to evolve during retirement–along with whether they’ve purchased long-term care insurance–should play a role in their spending plans.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): People with LTCI can safely withdraw a little more from retirement savings than those without the protection. What We Know for Sure About In-Retirement Withdrawal Rates #goldencareagent
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Categories: Industry News and Long-Term Care.

UPDATE: EssentialLTC New Partnership State Release – Delaware

National Guardian Life Insurance Company (NGL) is pleased to announce that an additional state has approved their new long-term care insurance plan, EssentialLTC! As of May 30th, 2017, EssentialLTC will become available for sales in the state of Delaware! This is also the newest state to have approved Partnership status. Watch for additional announcements as more states approve the new EssentialLTC product, and begin approving Partnership status. #goldencareagent #ngl >   Related: EssentialLTC Product Approved In Delaware
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Categories: Industry News, Long-Term Care, and National Guardian Life.

“Rich Retirees Are Hoarding Cash Out of Fear,” by Ben Steverman, ThinkAdvisor

“There’s a time in everyone’s life to save. There’s also a time when you’re supposed to spend. That time is commonly known as retirement. Millions of Americans aren’t doing that, however, which has put the U.S. in a perverse situation. Younger generations aren’t saving enough as their income slips further behind previous generations. Older Americans meanwhile sit atop unprecedented piles of assets built through stock market and real estate booms. (Related: Cash Is the Riskiest Investment for Retirees) Yet these retirees, or at least the affluent ones, aren’t spending it. It turns out they’re afraid of the unknown.” LTC Comment
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Categories: Industry News and Long-Term Care.