The Advantage of the Cash Benefit – Bruce’s Story

Real People. Real Stories. Bruce’s Story The Advantage of Cash Benefit The best way to understand how long-term care insurance can benefit your clients is through stories from our policyholders. Here’s how having a policy made a real difference for Bruce and his wife, Beth. Bruce’s Story – View the Flyer   If you have any questions, please contact Mutual of Omaha’s Sales Support at (800) 693-6083 or e-mail sales.support@mutualofomaha.com.   The Advantage of the Cash Benefit – Bruce’s Story   #goldencareagent #mutualofomaha
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

A Real Life Case: Winning a Protection-Focused IUL Sale

A member of our Sales Team was recently approached by a brokerage manager. They were in competition with another broker for a protection-focused IUL sale on a 61 year old Preferred Plus male. Here’s what the competitor was showing: The competitor policy had a $5,250,000 face amount and a single premium of $1,105,000. The competitor policy would carry to age 103 using their max illustrated rate of 6.60%. On the guaranteed side, the competitor’s policy carried to age 83. Here’s what our Life Protection Advantage IUL showed for the same face amount and single premium: Our policy would carry to
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Consider IUL Express as an Option for Clients Over Age 50

Many clients like the idea of getting their life insurance premiums back if they are still alive at the end of their term duration. We have a feature on our 30-year Term Life Express product that offers this refund to clients up to age 50. But, what if you have a client who wants this feature and is 51 or older? We encourage you to also consider an IUL Express policy as an alternative. Check out this sales idea. It provides an example showing how your clients may benefit from the permanent protection, as well as how they can benefit
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Good News | Struggling With Declines? Here Are Pro Tips To Increase Placement

Good News! Pro Tips To Boost Your LTCi Placement Rates When you’re ready to submit a completed Long-Term Care insurance application, give yourself a pat on the back! But don’t celebrate too soon. Your work is not done! It is very important to manage client expectations regarding the health interview, length of time to collect APS records (if needed), and explain potential underwriting outcomes. Here are some pro tips & resources to help: • Refer to Uninsurable Health Conditions/Medications Lists • Share the Next Steps in the Application Process Piece • Complete the “ARI” Authorization Form inside the app •
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Categories: GoldenCare News, Industry News, Long-Term Care, and Medicare Supp./Adv..

You’re Invited | We’ve Cracked the Code: Keeping LTCi Affordable

We’ve Cracked the Code: Keeping Long-Term Care insurance Affordable After analyzing Mutual of Omaha’s newly-refreshed LTCi premiums, we have identified the most-affected options and developed strategies to minimize the impact to your clients. Join Jeff Clark has he reviews Omaha’s refreshed rates and explains the cost-saving strategies you can begin utilizing today! Premium examples will be included, and all attendees will receive PDF copies of the presentation slides.   Tues, April 13, 2021 11:00 AM  to  11:30 AM CDT     Questions or help registering? 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, and Mutual of Omaha (& Affiliates).

“COVID-19 Helped Long-Term Care Insurers in 2020: Fitch”

“COVID-19 Helped Long-Term Care Insurers in 2020: Fitch,” by Allison Bell, ThinkAdvisor   “COVID-19 ended up giving U.S. long-term care insurance (LTCI) earnings a big boost in 2020, according to analysts at Fitch Ratings. Jamie Tucker and David Gorak, the analysts, write in a new commentary that low interest rates continued to hurt LTCI issuers’ investment earnings, but that the pandemic helped, by increasing LTCI insureds’ mortality and reducing the number of new claims. Thanks to the pandemic, U.S. insurers reported a total of $241 million in net operating gains from LTCI in 2020, up from a net operating loss
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Categories: Clippings, COVID-19, and Industry News.

“Genworth Ends China Oceanwide Merger Agreement”

“Genworth Ends China Oceanwide Merger Agreement,” by Allison Bell, ThinkAdvisor “Genworth Financial Inc. announced Tuesday that it has officially ended efforts to be acquired by China Oceanwide Holdings Group Co. Ltd. … In January, the companies shifted to using a merger agreement with no expiration date. Genworth said it has decided to end the merger agreement, rather than sticking with the open-ended agreement, to simplify efforts to carry out the company’s strategic plan. Part of the plan involves selling a stake in a large mortgage insurance subsidiary to investors, through a partial initial public offering.”   LTC Comment, Stephen A. Moses,
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Categories: Clippings and Industry News.

“Diane Archer on the Medicare Advantage Racket”

 “Diane Archer on the Medicare Advantage Racket,” by Editor, Corporate Crime Reporter “In September 2018, a government report was released and was largely ignored by the mainstream press. The report from the Inspector General at the Department of Health and Human Services (HHS) seductively titled – Medicare Advantage Appeal Outcomes and Audit Findings Raise Concerns About Service and Payment Denials – found that Medicare Advantage regularly denies claims and that when patients appeal those denials, the Medicare Advantage plan reversed three-quarters of their own denials. The numbers were troubling because of the infrequency with which patients and providers used the appeals process
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Categories: Clippings and Industry News.

7702 – Product changes and transition rules

7702 changes Background With the passage of the Consolidated Appropriations Act of 2021 on December 27, 2020, a change was made to Section 7702 of the Internal Revenue Code. This change outlined several requirements permanent life insurance policies must meet in order to qualify as a life insurance contract for tax purposes The change affects the life insurance industry by replacing the statutory interest rate assumptions (from 1984) from a previously hard-coded 4% rate to a floating rate. These changes will impact the limits associated with definitions of life insurance in the Guideline Premium Test, Cash Value Accumulation Test and
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Categories: Industry News, Life Insurance, and Securian.

Securian: maximize your client’s LTC benefit pool

Pro tip: maximize your client’s LTC benefit pool When you’re trying to find the best LTC product for a client, there’s often a temptation to do an apples-to-apples comparison between different carriers. But when you design a SecureCare Universal Life policy to match a competitor’s, you may miss out on the sweet spots. SecureCare tends to offer clients the most value when it uses an even-year benefit duration – and our 6-year benefit duration does the best from there. Just to give you an idea, here’s a hypothetical example for a 62 y/o male (NT, single) showing a $100K single-pay
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Categories: Industry News, Life Insurance, and Securian.