Genworth’s 2019 Commission Pay Schedule

Genworth is changing the timing of the end of year paydown. October 4, 2019 will be the payout for commission payments that have not previously met the minimum payment requirement. Genworth will process all commissions due on October 4, 2019. The $50 minimum payment requirement will resume after October 4, 2019 and will continue through the next commission pay down in 2020. Therefore, there will not be an “end of year” pay down as in previous years. All commission payments, for all products, will be distributed on October 7, 2019. Genworth will resume normal commission payments that have met the
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Ohio (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. Ohio has now allowed the following increases: Ohio Product Series Increase Percentage Privileged Choice 15% Classic Select 15%   This rate increase applies to both AARP and non-AARP policies. Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the start of
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Michigan (Classic Select®)

> 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. Michigan has now allowed the following increases: Michigan Product Series Increase Percentage Classic Select 20.3%   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 July 30, 2019 and will continue throughout the next year.
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Alaska (Classic Select®)

> 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. Alaska has now allowed the following increases: Alaska Product Series Increase Percentage Classic Select 12.2%   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 July 30, 2019 and will continue throughout the next year.
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Ohio (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. Ohio has now allowed the following increase: Ohio Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods Choice 1 46% 55%   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 July 23, 2019 and will continue throughout the next
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Michigan (Privileged Choice®)

> Privileged Choice® 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. Michigan has now allowed the following increases: Michigan Product Series Increase Percentage Privileged Choice 20.3%   This rate increase applies only to non-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 July 30,
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Alaska (Privileged Choice®)

> Privileged Choice® 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. Alaska has now allowed the following increases: Alaska Non-AARP Product Series Increase Percentage Privileged Choice 12.2%   Alaska AARP® Product Series Increase Percentage Privileged Choice 12%   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
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Categories: Genworth, Industry News, and Long-Term Care.

GoldenCare Newsletter | July 9, 2019

In this GoldenCare Newsletter Edition Read Full GoldenCare Newsletter, July 9, 2019 Edition From GoldenCare: Diversify your portfolio for greater sales success! Join us for product and sales live and prerecorded training.  Stay up-to-date on all the latest and greatest in the industry.    For a list of current topics and to get in on the discussion Click Here. Update Your Contracts LTC CEO Office, Home and Internet Selling Tools Software has been updated! This Must-Have Resource can dramatically increase your LTC sales, providing sales presentations, calculators, pre-recorded training, instruction for successful Internet Selling, LTC resources, and  MORE! Find out how to get
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Categories: Genworth, GoldenCare News, Guarantee Trust Life, Industry News, Long-Term Care, Mutual of Omaha (& Affiliates), National Guardian Life, Securian, and Transamerica.

In-Force Rate Action Announcement: Iowa (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. Iowa has now allowed the following increases: Iowa non-AARP Product Series Increase Percentage Privileged Choice 27.3% phased 17.9%, 8.0% cumulative Classic Select 27.3% phased 17.9%, 8.0% cumulative   Iowa AARP® Product Series Increase Percentage Privileged Choice 30% phased 17.9%, 10.26% cumulative Classic Select 30% phased 17.9%, 10.26% cumulative   These rate
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Categories: Genworth, Industry News, and Long-Term Care.

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.