“Social Security trust funds could run out even faster due to the coronavirus pandemic”

  “Social Security trust funds could run out even faster due to the coronavirus pandemic,” by Lorie Konish, CNBC Quote: “Social Security’s trust funds could run out as much as four years earlier due to the coronavirus pandemic, according to new research from the Wharton School at the University of Pennsylvania. Just how much the funds are affected will depend on how fast the U.S. economy recovers. Those planning for retirement may want to account for reduced benefits, just in case.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): The Social Security trust funds will run
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Categories: Clippings, COVID-19, Industry News, and Long-Term Care.

What are LTC Post Issue Requirements?

Below is an illustration of the typical LTC application process: STEP 1 Application Submission STEP 2 Risk Assessment STEP 3 Final Action STEP 4 Policy Delivery STEP 5 PIR Submissions   You may think that your work is complete by Step 4: Policy Delivery; however, in some situations post issue requirements (PIRs) are needed. Awareness of potential PIRs will help you maintain customer satisfaction as well as monitor your cases until final policy delivery. So… What is a Post Issue Requirement? PIRs may include one or more of the following items: Outstanding Premium Total premium is due 60 days from
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

New Critical Illness Built-in Return of Premium Consumer Flyer

Help illustrate the built-in ROP benefit when talking with clients. If your client dies while their policy is in effect, a beneficiary will receive all premiums paid in, minus any policy benefits or optional riders paid to your client. There is no additional charge for this benefit. To download this new flyer, click here. It’s also available through normal ordering channels. Note: Return of Premium is not available in all states. Please check your state policy for complete benefit information.   New Critical Illness Built-in Return of Premium Consumer Flyer   #goldencareagent #mutualofomaha
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Categories: Critical Illness, Industry News, and Mutual of Omaha (& Affiliates).

LTC Riders: Understanding the Differences in Design

Our LTC Rider on Income Advantage IUL and Life Protection Advantage IUL follows what is known as a reimbursement rider model. Many other companies use an indemnity model. Knowing the difference is important. Here’s a basic definition: Indemnity — Policyowner can take rider benefits up to the maximum monthly benefit limit regardless of the actual expenses incurred. Reimbursement — Policyowner is reimbursed based on actual expenses incurred by the insured, up to the maximum monthly benefit limit. At first glance based on the definitions alone, an indemnity rider may seem like the obvious choice, that your client has access to
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Video Interview: LTC Underwriting Insights

Meet our underwriter, Bill Spano. Insurance is a family business for Bill Spano- he became an underwriter thanks to the encouragement of his siblings. It seems to be a good fit too, as he enjoys building relationships with agents and brokers, helping them out however he can. Take a couple minutes to check out Bill’s video and you’ll hear him discuss how you can get quick answers to your questions as well as some common application issues.   Video Interview: LTC Underwriting Insights   #goldencareagent #mutualofomaha #ltc
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

Medicare Solutions – Omaha Family of Companies

Dental: Dental Insurance Spotlight-The Network View information about Mutual of Omaha’s Dental Network.   “Chomp at Dental Insurance for More Sales” Webinar Questions View Questions asked, during our “Chomp at Dental Insurance for More Sales” webinar, along with answers provided by our Sales Managers and Dental Teams.   #goldencareagent #mutualofomaha
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Categories: Dental, Industry News, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).

Important | Mutual of Omaha LTC Compensation Timing Update

Important Update Mutual of Omaha LTC Compensation Timing Update To better align with other product lines, beginning June 5, 2020, Mutual of Omaha compensation for LTC policies will be paid at the time all Post Issue Requirements (PIRs) are received and the case is considered placed. As a reminder, below are the PIRs that must be received to place the policy in force: Outstanding Premium – total premium due 60 days from issue Policy Delivery Acknowledgement (PDA) – required in WV, LA, SD, NE, IL Amendments – required when application response is missing/changed, when policy is issued with different risk
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Categories: GoldenCare News, Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

You’re Invited! Home Care Service Plans from True Freedom

GoldenCare now offers True Freedom Home Care Plans as an LTC alternative! These are field-issue plans available in all 50 states! All True Freedom Home Care Plans feature: 1-Question Field Issue | No Medical Underwriting | Available Nationwide | No Age Limit | No Elimination Period | No ADL Requirements | No Claim Forms Nationwide Home Care Plans with No Medical Underwriting Register Now To Reserve Your Space! Click below to register: Thurs, June 11, 2020 2:00 PM  to  2:45 PM CDT     Questions? Call the GoldenCare Marketing Team at 800-842-7799! Don’t forget to subscribe to our News Digest
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Categories: GoldenCare News, Industry News, Long-Term Care, and True Freedom.

“More Universal Life Comes With Long-Term Care Riders: Milliman”

  “More Universal Life Comes With Long-Term Care Riders: Milliman,” by Allison Bell, ThinkAdvisor Quote: “More universal life insurance (UL) policies may be coming with chronic illness riders, and more indexed universal life (IUL) policies may be coming with long-term care riders. Susan Saip and Carl Friedrich, actuaries at Milliman, have published new data on the market for UL and IUL benefits in a new survey report summary. … A copy of the new Milliman universal life and indexed universal life survey report summary is available here. An article about an earlier Milliman UL/IUL survey report is available here.” LTC Comment (from Stephen A. Moses,
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Categories: Clippings, Industry News, and Long-Term Care.

“The Most Important Coronavirus Statistic: 42% Of U.S. Deaths Are From 0.6% Of The Population”

  “The Most Important Coronavirus Statistic: 42% Of U.S. Deaths Are From 0.6% Of The Population,” by Avik Roy, Forbes Quote: “Americans are vigorously debating the merits of continuing to lock down the U.S. economy to prevent the spread of COVID-19. A single statistic may hold the key to resolving this debate: the astounding share of deaths occurring in nursing homes and assisted living facilities. 2.1 million Americans, representing 0.62% of the U.S. population, reside in nursing homes and assisted living facilities. … According to an analysis that Gregg Girvan and I conducted for the Foundation for Research on Equal Opportunity, as of May 22, in
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Categories: Clippings, COVID-19, Industry News, and Long-Term Care.