In-Force Rate Action Announcement: Florida (PCS I, PCS II, Choice 1)

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. Florida has now allowed the following increases: Florida Product Series Increase Percentage for Policies with Limited & Lifetime Benefit Periods for Issue Ages: PCS I Individual policies only: Age 71: 88.4% phased  (23.5%, 23.5%, 23.5% cumulative) Age 72: 78.5% phased  (21.3%, 21.3%, 21.3% cumulative) Age 73: 68.5% phased  (19%, 19%, 19% cumulative) Age 74: 58.9% phased  (16.7%, 16.7%, 16.7% cumulative) Age 75: 48.9% phased  (14.2%, 14.2%,
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Categories: Genworth, Industry News, and Long-Term Care.

Fulfillment Guidelines for Licensed Agent and Administrative Staff Activities

Fulfillment type models provide significant assistance to producers and free them up to concentrate on selling insurance products. While these methods are helpful, there are also certain activities that only a licensed agent can perform, which cannot be delegated to any unlicensed personnel. As a reminder, below are important guidelines that you must follow if you are operating in, or anticipate operating in, a fulfillment type of environment. Acts of Agents Although the different state jurisdictions define the acts of an agent somewhat differently, all states would consider solicitation, negotiation and effectuation of insurance as activities that require an agent
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Categories: Genworth, Industry News, and Long-Term Care.

Genworth Individual Long Term Care Insurance Incentive Campaign

For all states except DE, MI, FL, HI, MA, MT, NH and CT   Announcing Fall into 10%! Genworth is funding an incentive campaign for producers that submit qualifying applications for Genworth’s Long Term Care Insurance (LTCi) products, Privileged Choice Flex and Privileged Choice Flex 3-Enhanced. 10% of annualized premium paid to producers for business submitted between 9/1 — 11/30/2018 and placed by 12/21/2018 Placed policies are Genworth long term care insurance policies that have been issued and placed in-force without the policy being not taken. Incentive payments will be processed through the writing producer’s commission statement or through the
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Categories: Genworth, Industry News, and Long-Term Care.

Do Your Clients Have Everything They Need?

Opportunity is Knocking… Are You Gonna Answer? If you had the opportunity to help more people…if you could make more sales and build your business, wouldn’t you jump at the chance? Here’s the deal. There are people out there who need long-term care insurance. A lot of people. Every day, 10,000 baby boomers turn 65. And that’s expected to continue for another decade. As your clients approach retirement age, they need your help planning for their long-term care needs. We’ll provide you with tips to help you have those all-important LTC planning conversations with confidence. Let’s start with why people
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

United Security Assurance – Secure E-fax with Voided Check

Secure E-fax with Voided Check Easier new business submission We have made it easier for you to submit new business. United Security Assurance is now accepting faxed applications with voided checks! You may fax your application to our Souderton home office from your computer or fax machine. Here’s what you need to know: We have a dedicated, Toll-Free Fax Number: 888-976-5969 — use this number to send only applications and related underwriting information. Faxed applications must be completed, clean, and legible — if we are not able to read the information, we will contact you and you may need to
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Categories: Industry News, Long-Term Care, and United Security.

Good News | Give Yourself A Competitive Edge With These Additional Tools

  Additional Quoting & Comparison Tools Now Available! Popular for its ability to quote and compare LTCi plans, StrateCision has just been enhanced! Accessing this tool on goldencareagent.com, you’ll now be able to quote and compare Short-Term Care (STC) and Hybrid policies – giving you more of a competitive edge! To accommodate the enhancements and to ensure the information entered remains secure, we’ve also added a Log-In page to access to the tool. You’ll need to go through a one-time  “New User Registration” process. However going forward your login credentials may be saved in your browser. Give it a try! Click below to complete the registration
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Categories: GoldenCare News, Industry News, and Long-Term Care.

“Buyers Of New Long-Term Care Insurance Policies Face Little Risk Of Future Rate Increase”

“Buyers Of New Long-Term Care Insurance Policies Face Little Risk Of Future Rate Increase,” by Jesse Slome, ExpertClick “Individuals who purchase a new long-term care insurance policy face little if any chance of a future rate increase according to a study of pricing experts released by the American Association for Long-Term Care Insurance.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): It’s about time this news got out backed up by actuaries’ opinions. Buyers Of New Long-Term Care Insurance Policies Face Little Risk Of Future Rate Increase #goldencareagent #rate
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Categories: Clippings, Industry News, and Long-Term Care.

“Sex Doesn’t Stop with Dementia”

“Sex Doesn’t Stop with Dementia,” by Judy George, MedPage Today “Most people with dementia who lived at home and had a partner were sexually active, a national study of older adults found. Of partnered people, 59% of men and 51% of women who screened positive for dementia were sexually active, including 41% who were 80 to 91 years old, reported Stacy Tessler Lindau, MD, of the University of Chicago, and co-authors in the Journal of the American Geriatrics Society. This is the first study to establish nationally representative evidence about sexuality and cognitive function of older adults at home, Lindau
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Categories: Clippings, Industry News, and Long-Term Care.

“States try to beat back rate increases on long-term-care policies”

“States try to beat back rate increases on long-term-care policies,” by Greg Lacurci, InvestmentNews “States have taken steps to limit the drastic rate increases plaguing the long-term-care insurance market, leading some experts to suggest that these insurance policies are worth a second look for financial advisers and consumers. … Jesse Slome, executive director of the American Association for Long-Term Care Insurance, said that new policies priced today have ‘almost zero chance of having a rate increase,’ but added that that hasn’t done much to sway public opinion about the products.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term
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Categories: Clippings, Industry News, and Long-Term Care.

“Anne Tumlinson: Transforming Long-Term Care for Older Adults”

“Anne Tumlinson: Transforming Long-Term Care for Older Adults,” by Emily Gurnon, Next Avenue “Next Avenue 2018 Influencer in Aging Anne Tumlinson is a nationally recognized expert in the economics of an aging society. She is the founder of Daughterhood, an organization dedicated to building community around the experience of caring for aging parents. Daughterhood informs and supports the work Tumlinson and her team of researchers and analysts do through her firm, Anne Tumlinson Innovations, to help providers, payers and policymakers transform the financing and delivery of health and long-term care to older adults. (She wrote about some of these challenges
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Categories: Clippings, Industry News, and Long-Term Care.