Washington state LTCi updates: Processing solution as 11/1 deadline nears Thank you for your patience as we work diligently to process the significant influx of long-term care (LTC) application volume we’ve received as a result of the Washington Cares Fund. The surge in applications has put significant strain on carriers, underwriters and the vendors who support this business across the industry. We received triple the normal number of LTC applications throughout May, June and July. And while we have made meaningful progress, there are still a significant number of applications to process. Current projections indicate that we will return to
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Something’s coming (get excited!)
eApp to offer client collaboration When it comes to tele-interviews, we’re sure you’ve heard client frustration with hold times or sharing their personal information with a stranger. Well, we’re excited to announce that soon Securian Financial will be offering the option for your clients to fill out the underwriting questionnaire (part 2) as part of the eApp process,* giving them the opportunity to answer medical questions at their convenience without having to go through a tele-interview. We believe this enhancement can help improve the experience of our customers so keep an eye on your inbox for more information. Contact
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7702 changes for SecureCare UL
7702 changes go into effect Nov. 1 for SecureCare UL Effective November 1, 2021, the guaranteed interest rate on new SecureCare Universal Life (SecureCare UL) applications will be updated to comply with the Consolidated Appropriations Act of 2021, which lowers the interest rate assumptions used in Section 7702 of the Internal Revenue Code. How will these changes impact SecureCare UL benefits? Long-term care (LTC) benefits: The new guaranteed interest rate will have no impact on the LTC benefit pool. Regardless of whether an applicant receives the old or new guaranteed interest rate, the amount of LTC coverage they receive will
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Update: WA long-term care application process
Update: WA long-term care application process The rapid influx of applications in the state of Washington (WA) has put significant strain on carriers, underwriters, and the vendors who support this business across the industry. When we made the decision to temporarily suspend sales of our Asset Care and Annuity Care products in Washington state on Aug. 14, we indicated we were unable to guarantee applications would be fully processed with a policy in force prior to Nov. 1, 2021. The following is the current status on pending applications for the remainder of October: On WA applications requiring medical records it
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Wisconsin Only: Billing Changes and New Customer Website for SureBridge New Business
Starting on October 22, 2021, Wisconsin applications received for SureBridge supplemental products will have a new billing process and customer website. These updates apply to NEW Wisconsin customers only and do not affect current customers. There are no changes for Wisconsin business dated prior to Oct 22. Click here for important details about the following items: New customer billing draft date and pro-rated premium New customer website (mysurebridgeinsurance.com) We encourage you to become familiar with how billing for new business in Wisconsin will differ from that of previous business sold in the state. We are excited about these changes and
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NGL EssentialLTC – Washington State underwriting update
Washington State Underwriting Update We have now completed the underwriting for over two-thirds of the Washington State business that has been submitted. The remaining applications require obtaining necessary sets of medical records to reach an underwriting decision. There are a small number of cases that have not yet completed telephone interviews or an age required LTC Exam. We do expect all of those to be done within the next two weeks. To facilitate the release of medical records, our vendor has been offering electronic transmission options as a time saver to the larger medical care providers. We have established an
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Have you heard about Lumico’s Med Supp Cup incentive program?
AEP has already begun, which means our first ever Med Supp Cup incentive program is already under way! Sell Med Supp plans underwritten by Elips Life and/or Lumico, and you’ll reap big rewards! Here’s how: Issue 5 to 9 apps: receive a cash bonus of $200 x total apps issued For 10 to 19 apps: $220 x total apps issued For 20 to 29 apps: $240 x total apps issued 30+ apps: $260 x total apps issued We’ll see you at the finish line! Lumico Medigap Solutions team Check out the Med Supp Cup Flyer to learn more! Lumico
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GoldenCare News, Industry News, Lumico, and Medicare Supp./Adv..
e-App, e-Application, electronic application, Elips, Elips Life, Elips Life Insurance Company, insurance, Insurance Made Clear, Lumico, Lumico Insurance Company, Med Supp, medicare, Medicare Supplement, Medigap, medsupp, premium, and Swiss RE.
e-App, e-Application, electronic application, Elips, Elips Life, Elips Life Insurance Company, insurance, Insurance Made Clear, Lumico, Lumico Insurance Company, Med Supp, medicare, Medicare Supplement, Medigap, medsupp, premium, and Swiss RE.
Supplement Employee Benefits
As we head into the end of the year, many employers are presenting their employee benefit plans. Now is a good time to discuss with your clients about the benefits of having an Individual Disability Income policy that they can take with them if their employer changes. Your clients can also benefit from additional coverage to enhance their existing coverage. Start the conversation today. Watch the video by clicking here or below: Supplement Employee Benefits #goldencareagent #mutualofomaha #disability
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New Sales Idea: Middle Market Clients
There are a variety of options available to help with long-term care planning. While each may have unique benefits for your client, when it comes to the middle market, standalone LTCi may make more sense. View the Sales Idea flyer. New Sales Idea: Middle Market Clients #goldencareagent #mutualofomaha
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IULs Designed with Simplicity in Mind
At Mutual of Omaha, we don’t believe that you need fancy (and oftentimes confusing) crediting strategies in order to offer your clients upside potential. By using only one index and a straightforward, annual point-to-point crediting method, our products are easier for you to explain to your clients. Life Protection Advantage, our protection focused IUL, offers coverage projected to age 120 at competitive premiums, and an option to guarantee coverage to age 90. Income Advantage, our accumulation focused IUL, builds competitive cash values* due to its lower charge structure, and has strong index loan provisions. Learn more about our fully-underwritten indexed
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