REMINDER: Commissions: 1099-MISC 2018 Tax Information

Important information about 1099-MISC (miscellaneous income) tax forms: A 1099-MISC will be filed for each person who is paid at least $600 in commissions in 2018. This includes all product lines. Some payments are not required to be reported on this form, although they may be taxable to the recipient. For example, commissions paid to a corporation are not required to be reported via a 1099-MISC. Therefore, a 1099 MISC will not be created for corporations. Access your 1099-MISC statement faster by going paperless before December 31, 2018! 1099-MISC statements will be available electronically to all Producers currently receiving 1099-MISC
Read More

Categories: Genworth, Industry News, and Long-Term Care.

REMINDER: December 19, 2018: Deadline for Long Term Care New Business Requirements

As the year comes to a close, to optimize your 2018 placed production, please keep in mind the year-end cutoff for new business is December 19, 2018. Genworth’s final commission cycle will be on December 28, 2018 for all Long Term Care Insurance. Requirements for Final Commission Payment All delivery requirements must be received by December 19, 2018 Delivery requirements received after December 19, 2018 may not be completed before the final commission cycle. Commission Payment Cycle Dates Genworth’s Final Commission payment will be processed December 28, 2018 Genworth will resume normal commission cycles on January 2, 2019 Production Bonus
Read More

Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Alabama Trust Group Master Policy (Pre-PCS, 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. Alabama has now allowed the following increase for certificates issued under a group master policy issued in AK, AR, AZ, CT, DC, DE, GA, HI, ID, KY, MA, MI, MO, MS, MT, ND, OK, PA, SC, SD, TN, VA and WY. Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods Pre-PCS 39% 72% PCS I 55% 72% PCS II
Read More

Categories: Genworth, Industry News, and Long-Term Care.

GoldenCare Newsletter | December 3, 2018

In this GoldenCare Newsletter Edition From GoldenCare: New GoldenCare Holiday LTC Sales Promotion!  Click Here for details.  Good luck! Update Your Contracts Look for an upcoming LTC CEO Office, Home and Internet Selling Tools Software update, coming in the next couple weeks with all the latest tools! Making a good decision on whether or not to own Long Term Care insurance depends upon receiving factual information on the subject. LTCCEO was developed to offer our clients the knowledge they need to make wise decisions. Find out how to get your copy here. Diversify your portfolio for greater sales success! Join us
Read More

Categories: Genworth, GoldenCare News, Guarantee Trust Life, Industry News, Long-Term Care, Mutual of Omaha (& Affiliates), Transamerica, and United Security.

In-Force Rate Action Announcement: Oklahoma (Pre-PCS, 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. Oklahoma has now allowed the following increases: Oklahoma Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods Pre-PCS 10% 10% PCS I 10% 10% PCS II 10% 10%       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
Read More

Categories: Genworth, Industry News, and Long-Term Care.

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

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. Georgia has now allowed the following increases: Georgia Product Series Increase Percentage Privileged Choice 18% Classic Select 18%     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 of policyholder notifications. Policyholder notifications will begin December 11, 2018 and will continue throughout the next
Read More

Categories: Genworth, Industry News, and Long-Term Care.

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

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. Connecticut has now allowed the following increases: Connecticut Product Series Increase Percentage Privileged Choice 15% Classic Select 15%     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 of policyholder notifications. Policyholder notifications will begin December 11, 2018 and will continue throughout the next
Read More

Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Arizona (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. Arizona has now allowed the following increases: Arizona Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods PCS II 4% 38% Choice 1 7% 12%       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
Read More

Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: New York (Pre-PCS, 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. New York has allowed the following increases to Partnership and non-Partnership policies: New York Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods Pre-PCS 52.1% phased 15%, 15%, 15% cumulative 52.1% phased 15%, 15%, 15% cumulative PCS I 52.1% phased 15%, 15%, 15% cumulative 52.1% phased 15%, 15%, 15% cumulative PCS II 52.1% phased 15%, 15%, 15% cumulative 52.1%
Read More

Categories: Genworth, Industry News, and Long-Term Care.

GoldenCare Newsletter | November 19, 2018

In this GoldenCare Newsletter Edition From GoldenCare: The GoldenCare Office will be closed Thursday, November 22nd and Friday, November 23rd for the Thanksgiving Holiday. Happy Thanksgiving from our GoldenCare family to yours. New GoldenCare Holiday LTC Sales Promotion!  Click Here for details.  Good luck! Update Your Contracts Look for an upcoming LTC CEO Office, Home and Internet Selling Tools Software update, coming in the next couple weeks with all the latest tools! Making a good decision on whether or not to own Long Term Care insurance depends upon receiving factual information on the subject. LTCCEO was developed to offer our clients
Read More

Categories: Genworth, GoldenCare News, Guarantee Trust Life, Industry News, Long-Term Care, Mutual of Omaha (& Affiliates), National Guardian Life, and Transamerica.