TRANSCARE II 3% Compound Benefit Increase Option

TRANSCARE II 3% COMPOUND BENEFIT INCREASE OPTION Introducing TransCare II‘s 3% Compound Benefit Increase Option Rider*, available to your clients starting June 18. This benefit increase option automatically increases policy benefits by 3% annually on its anniversary date. To learn about the 3% Compound Benefit Increase Option Rider or to get a quote, please contact the Transamerica sales desk at 888-545-2713.   TRANSCARE II 3% Compound Benefit Increase Option   #goldencareagent #transamerica
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Categories: Industry News, Long-Term Care, and Transamerica.

Transamerica Agent Resource Center Shared Accounts

ARC Shared Accounts On June 30, 2019 all guest accounts on Transamerica’s Agent Resource Center (ARC) will no longer be active (see list below for impacted accounts). Once disabled, only those individuals who are associated with a Transamerica LTC-appointed Agent or Agency will be eligible to receive this access. If you are an eligible user as described above and will require future access, please call 1-888-458-2786 to submit a request for a new guest account through our LTC Technical Support Team. 000003VIEW EJ0012VIEW 000097VIEW 000099VIEW 000059VIEW 000012VIEW 000021VIEW EJ0047VIEW 000059PLTC 0000210SIA 000007VIEW 000020VIEW 000098VIEW 000059QAMF 000005VIEW 000097WFG1 000021AMLC 000047VIEW 000029VIEW
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Categories: Industry News, Long-Term Care, and Transamerica.

NEW Asset Care product is now available!

Our updated Asset Care® product has launched! Asset Care is still the same great product with the same great benefit guarantees — we’ve just simplified and enhanced the product, improved consistency while maintaining flexibility, and added options that our distribution partners have asked for over the years. Asset Care product highlights: Zero-day waiting period for home healthcare Optional joint coverage and lifetime benefits COB rider built into base policy New Single Premium Drop-In Rider on Recurring Premium Whole Life New 5-pay option on Recurring Premium Whole Life Learn more »   What you need to plan for today New business
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Categories: Industry News, Linked Benefit/Hybrids, and OneAmerica.

Lumico MACRA Revised Outlines of Coverage

In compliance with the requirements of the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA), the Outline of Coverage has been revised. The benefit chart has been revised to reflect Plan C and F are only available to applicants that were first eligible for Medicare before January 1, 2020. Agents should begin using the revised outlines effective July 1, 2019 since this is the earliest date open enrollment applicants may start applying for coverage with a January 1, 2020 effective date. Click HERE to view, download and print the revised Outlines of Coverage. Visit my.aimc.net to order additional supplies.
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Categories: Industry News, Lumico, and Medicare Supp./Adv..

In-Force Rate Action Announcement: Nevada (Choice 1)

> Choice 1 with Stable Premium Option 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. Nevada has now allowed the following increases: Nevada Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods Choice 1 64.3% phased 18%, 18%, 18% cumulative 82.48% phased 22%, 22%, 22% cumulative   Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the
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Categories: Genworth, Industry News, and Long-Term Care.

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

> Privileged Choice® and Classic Select® with Stable Premium Option > 1% Benefit Increase Option 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. New Mexico has now allowed the following increases: New Mexico Product Series Increase Percentage Privileged Choice 6% Classic Select 6%   This rate increase applies to non-AARP and AARP policies. Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the start
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: New Stable Premium Option for Privileged Choice® and Classic Select® Policyholders

To help mitigate the impact of current and future planned premium increases, we are providing an additional coverage option for most of our Privileged Choice and Classic Select policyholders to consider when faced with a premium increase. Beginning on July 1, 2019, the new Stable Premium Option Endorsement will be available in states where it’s allowed. The Stable Premium Option provides a guarantee that the new premium associated with the Stable Premium Option will not increase until at least 2024, along with the following specific set of benefits1: A three-year benefit period for individual policies and a six-year benefit period
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: New 1% Benefit Increase Option for Privileged Choice® and Classic Select® Policyholders

As part of our continued effort to provide additional coverage options to our policyholders who are facing a premium increase, we are introducing a new coverage option for eligible Privileged Choice and Classic Select policyholders to consider. Beginning on July 1, 2019, the 1% Benefit Increase Option will be available in state where it’s allowed. The 1% Benefit Increase Option will be available for Privileged Choice and Classic Select policyholders who currently have a benefit increase option as part of their policy. If this option is selected, policyholders will retain their increased Daily Benefit Amount (DBA). The increased DBA and
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Categories: Genworth, Industry News, and Long-Term Care.

LTC “Underwriting Operation” – Camila’s Story

Another case study as part of our ongoing Underwriting Operation. CASE STUDY: Camila Camila, a 63-year-old woman in Arizona, applied for MutualCare® Custom Solution. She was quoted Select; however, after underwriting review, a Class I rate was offered. During the application process, Camila hadn’t told her agent about a stroke she had 3 years ago which caused a change in rate class. The stroke was discovered when the underwriter reviewed her medical records. The underwriter emailed the agent regarding the rate class change and encouraged the agent to call and discuss options with the client. The agent discussed the rate
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

OneAmerica Asset Care Product Teaser

Coming in July: Updated Asset Care® By Jan. 1, 2020, all issuers of life insurance are required to reprice their products according to the 2017 CSO mortality tables. OneAmerica® has updated the benefits and pricing within our whole-life based Asset Care® product suite, and we will be launching a new product in July! Asset Care is still the same great product with the same great benefit guarantees — we’ve just simplified and enhanced the product, improved consistency while maintaining flexibility, and added options that our distribution partners have asked for over the years. Joint coverage and lifetime benefits are still
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Categories: Industry News, Linked Benefit/Hybrids, and OneAmerica.