Since launching Automated Underwriting for Living Promise e-Applications in November 2018, over 12,000 applications have been submitted. Of those applications, 59% were instantly approved and 75% of the referred cases were approved after review for an overall approval rate of 82%. As with any new system, there are opportunities for improvements and we are working on fine-tuning the process. We’d like to provide you with an update on some of the recent enhancements/fixes that will improve you and your clients’ experience with the Living Promise e-App. Recent Enhancements/Fixes We removed cookies from the clickwrap email signature process. Your clients will
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In-Force Rate Action Announcement: Tennessee (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. Tennessee has now allowed the following increases: Tennessee Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods PCS I 58.76% phased 26%, 26% cumulative 81.58% phased 22%, 22%, 22% cumulative PCS II 44% phased 20%, 20% cumulative 72.8% phased 20%, 20%, 20% cumulative This rate increase applies to non-AARP, non-partnership policies only Communications Timeline Servicing agents will
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Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Nebraska (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. Nebraska has now allowed the following increases: Nebraska Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods PCS I 40% 72.95% phased 50%, 15.3% cumulative PCS II 34% 66.2% phased 50%, 10.8% cumulative Choice 1 106.1% phased 50%, 37.4% cumulative 164.6% phased 50%, 50%, 17.6% cumulative This rate increase applies to non-AARP, non-partnership policies only Communications Timeline
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Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Kentucky (PCS I)
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. Kentucky has now allowed the following increases: Kentucky Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods PCS I 30% 41.4% phased 30%, 8.8% cumulative This rate increase applies to non-AARP, non-partnership policies only. Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the start of policyholder
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Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Florida (Pre-PCS; ages 71 to 79)
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: Florida Product Series Increase Percentage for Policies with Limited & Lifetime Benefit Periods for Issue Ages: Pre-PCS For individual policies only: Age 71: 69.4% phased (19.2%, 19.2%, 19.2% cumulative) Age 72: 61.4% phased (17.3%, 17.3%, 17.3% cumulative) Age 73: 54.1% phased (15.5%, 15.5%, 15.5% cumulative) Age 74: 46.2% phased (13.5%, 13.5%, 13.5% cumulative) Age 75: 38.6% phased (11.5%, 11.5%, 11.5%
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Genworth, Industry News, and Long-Term Care.
Care Solutions News, March 2019
Quick reads From tax-deferred to tax-free for LTC As tax season nears its end, keep the momentum going by bringing LTC into your conversations. Now is a great time to reinforce the powerful tax advantages of our Care Solutions annuity-based products as you share the LTC story with clients and advisors. Leverage these key resources: How the Pension Protection Act of 2006 provides tax-free annuity dollars for care Annuity Care®, Annuity Care® II, Indexed Annuity Care® Annuity Care video Care Solutions rate calculator Our Care Solutions rate calculator quotes Annuity Care® II and all Asset-Care® products. It’s easy, quick, accurate
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GTL’s Precision Care Now Available in Michigan
Now available in Michigan! Available on Paper only — e-App coming soon! Covering the High Cost of Cancer is Good… Beating Cancer is Better. Guarantee Trust Life Insurance Company (GTL) has partnered with The Translational Genomics Research Institute (TGen), a nonprofit pioneer in genome sequencing and precision cancer treatment, to design a new and groundbreaking cancer insurance product. GTL’s Precision CareTM helps policyholders afford and have access to TGen’s world-class cancer physicians and genomic sequencing services for a more individualized and targeted approach to treating cancer. WATCH VIDEO VIEW WEBSITE ORDER SUPPLIES Looking to learn more
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Good News | Quote, Compare & Submit Business – All On One Platform
Introducing A Brand New E-App Feature On CSG Actuarial CSG Actuarial, our complimentary tool for quoting and comparing Medicare Supplement & Medicare Advantage/PDP, has just introduced a new feature: a universal, multi-carrier electronic application! This innovative technology allows agents to quote multiple carriers and submit a standardized, carrier-compliant application on the same platform. Click for details and instructions for gaining access Plus, don’t miss a special live demonstration of this new E-Application feature! CSG Actuarial: Universal, Multi-Carrier E-Application Demo Wed, May 8, 2019 2:00 PM to 2:45 PM CDT Read Full Good News Article Questions? Call the GoldenCare Marketing
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“Fear and health care: Gallup survey finds Americans skipped treatment, borrowed $88B to pay for costs”
“Fear and health care: Gallup survey finds Americans skipped treatment, borrowed $88B to pay for costs,” by Ken Alltucker, USA Today “Americans borrowed about $88 billion to pay for health care last year, and one in four people skipped care because of costs, according to a new Gallup survey funded by a nonpartisan health group. The nationwide survey of 3,537 adults found that lower-income adults were more likely to skip care or fear bankruptcy over spiraling medical costs, but even affluent households deferred care over concerns about finances.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): I wonder how
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Clippings, Industry News, and Long-Term Care.
“One hour a week of physical activity can hold off disability, study says”
“One hour a week of physical activity can hold off disability, study says”, by Brett Molina, USA Today “Older adults with pain in their hips or legs can ward off disability by performing physical activity for as little as one hour a week, according to a study published Monday. The study from researchers at Northwestern Medicine found that less than 10 minutes a day of moderate physical activity was enough to help older adults avoid limitations to their movement.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): And an apple a day will keep the doctor
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Clippings, Industry News, and Long-Term Care.
