The LTC Industry mourns the loss of one of its great leaders. GoldenCare is sorry to announce the loss of Mark Randall, an innovative voice in the Long-Term Care Insurance industry, a key leader, excellent teacher, and close friend. His influence continues today having trained many thousands of agents. Not only did he work with insurance companies to develop new products to address consumer needs, he also developed one of GoldenCare’s premier agent training and sales software kits, the LTC CEO. Mark was also instrumental in bringing his two brothers, Jon Randall and Tom Randall, into the industry. Mark’s passion
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Advantage Plus Upgrade Now Available in Maine and Oregon!
GTL’s Advantage Plus Hospital Indemnity Insurance upgrade is now available in Maine and Oregon! Available on paper only — e-App coming soon! Missed our Pre-AEP webinar which also highlighted these great new additions? Watch the recording now! New Base Plan Options Up to $750 per day hospitalization benefit. Ambulance Rider Upgrade Choice from $50 – $400 daily usage benefit, up to 4 times per year, lifetime max of 12 trips, air ambulance coverage included, and no hospital confinement required. Skilled Nursing Rider Addition Choice of two coverage options of $100, $150, $200 per day for day 1-50 -OR- $120 per
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REMINDER: Commissions: 1099-MISC 2018 Tax Information
Important information about 1099-MISC (miscellaneous income) tax forms: A 1099-MISC will be filed for each person who is paid at least $600 in commissions in 2018. This includes all product lines. Some payments are not required to be reported on this form, although they may be taxable to the recipient. For example, commissions paid to a corporation are not required to be reported via a 1099-MISC. Therefore, a 1099 MISC will not be created for corporations. Access your 1099-MISC statement faster by going paperless before December 31, 2018! 1099-MISC statements will be available electronically to all Producers currently receiving 1099-MISC
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Genworth, Industry News, and Long-Term Care.
REMINDER: December 19, 2018: Deadline for Long Term Care New Business Requirements
As the year comes to a close, to optimize your 2018 placed production, please keep in mind the year-end cutoff for new business is December 19, 2018. Genworth’s final commission cycle will be on December 28, 2018 for all Long Term Care Insurance. Requirements for Final Commission Payment All delivery requirements must be received by December 19, 2018 Delivery requirements received after December 19, 2018 may not be completed before the final commission cycle. Commission Payment Cycle Dates Genworth’s Final Commission payment will be processed December 28, 2018 Genworth will resume normal commission cycles on January 2, 2019 Production Bonus
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Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Alabama Trust Group Master Policy (Pre-PCS, PCS I, PCS II)
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. Alabama has now allowed the following increase for certificates issued under a group master policy issued in AK, AR, AZ, CT, DC, DE, GA, HI, ID, KY, MA, MI, MO, MS, MT, ND, OK, PA, SC, SD, TN, VA and WY. Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods Pre-PCS 39% 72% PCS I 55% 72% PCS II
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Genworth, Industry News, and Long-Term Care.
Set Target Premium with MutualCare Solutions Software
When you are meeting with clients who have a desired premium in mind for long-term care coverage, we have a great tool to get you to that premium amount. Use the MutualCare Solutions software Set Target Premium feature. It allows you to enter the desired premium your clients want while building the benefits around the premium. When you open the software, look for this symbol. Now, enter the client’s state, age, gender, premium mode, inflation protection and elimination period. Once you hit Set Target Premium, you will enter the client’s desired premium. The monthly benefit will adjust to the targeted
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Mutual Ranked Best in Customer Service for DI Insurance
A recent issue of Newsweek recognized several categories of America’s Best Customer Service 2019. They received feedback from more than 20,000 consumers. In the insurance category, under Disability Insurance, Mutual of Omaha ranked second for quality of communication, technical competence, range of services, customer focus and accessibility. This is great news for your clients who want to protect their most valuable asset…their income. At Mutual of Omaha, we appreciate our customers and treat them right. For more information on our DI products, click here. If you have any questions, please contact Mutual of Omaha’s Sales Support at (800) 693-6083
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REMINDER: Omaha 2018 Holiday Closings and End-of-Year Pay Dates
Mutual of Omaha and its affiliates (United of Omaha, Companion Life Insurance Company, and United World) will be closed on the following days: Christmas Eve: Monday, December 24, 2018 Christmas Day: Tuesday, December 25, 2018 New Year’s Eve: Monday, December 31, 2018 New Year’s Day: Tuesday, January 1, 2019 From everyone at Mutual of Omaha, we wish you happy holidays and safe travels! The past pay cutoff in 2018 is December 28 for Life and December 27 for Health. This is the last pay cycle to be paid in 2018. Holiday Date Holiday Observed Life Cutoff (New issues &
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New Option for LTCi Claim Payments
Now your clients have another option for receiving long-term care benefits. Benefit payments can now be sent via EFT (electronic funds transfer). This will allow customers or their providers to receive claim payments faster by electronically transferring benefit payments direct to their bank accounts. Please note: this is only available on the LTC13, LTC09M, LTC09U, LTC06UI, LTC04I7, LTC004I and LTC04G. Notification of the new EFT option is currently being included with all long-term care payments, and will be included in the LTCi claim packet by year end. If you have any questions, please contact Mutual of Omaha’s Sales Support
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Medicare News – Omaha Family of Companies
Medicare Supplement: Upcoming Med Supp Rate Adjustments Scroll through the announcement for details on the following rate adjustments. • Modernized Rate Adjustments — MOO-HI,MS *See page 1 of the attachment January 1, 2019 Med Supp Release View the January 1, 2019 rate adjustment for Mutual New Hampshire and United New Mexico. 2019 Med Supp Marketing Credits Program Earn credits in 2019 for your Med supp business and redeem them for your Med supp business expenses. 2019 Copay and Deductible Marketing Materials Available Medicare supplement marketing materials containing the 2019 copay and deductible information are now available to
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