Transamerica: (NAIC) Model Illustration Regulation Update

This bulletin provides information about the National Association of Insurance Commissioners (NAIC) Model Illustration Regulation and its rules concerning the use of illustrations in the sale of life insurance. At this time, the life insurance illustration regulation promulgated by the NAIC has been adopted in the following states: Alabama, Alaska, California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Texas, Utah, Vermont, Washington, West Virginia
Read More

Categories: Industry News, Life Insurance, and Transamerica.

GoldenCare Newsletter | April 23, 2018

In this GoldenCare Newsletter Edition From GoldenCare: PROMO TIME! Guarantee Trust Life Insurance Company’s recently-launched Home Health Care product complements the Critical Cash plan so well – it’s a close comparison!   Get your apps in now through the end of May, write both policies on an individual client and DOUBLE your earnings! Get all the details in this Edition.  Good Luck! The newest version of LTC CEO Office, Home and Internet Selling Tools Software is now available! Making a good decision on whether or not to own Long Term Care insurance depends upon receiving factual information on the subject. LTCCEO was
Read More

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

“Opinion: What the rise of dementia may mean for your financial future”

“Opinion: What the rise of dementia may mean for your financial future,” by Angie O’Leary, MarketWatch Quote: “From the outset, a dementia diagnosis necessitates services and care that bring about a mountain of expenses. Early on, families tend to step in as caregivers and coordinators, helping with everything from routine activities, like shopping and medical appointments, to daily tasks, like bathing and dressing. This can add to the financial burden in the form of lost wages, career disruptions and out-of-pocket expenses. It’s important to note that the vast majority of family caregivers are women, which means they are likely to
Read More

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

“New Census Bureau data show steady increase in prospective residents”

“New Census Bureau data show steady increase in prospective residents,” by Lois A. Bowers, McKnight’s Senior Living Quote: “Most U.S. older adults who make the move to a senior living community do so between ages 75 and 84, according to the American Seniors Housing Association’s Where You Live Matters consumer education campaign. Data released by the Census Bureau on Thursday show a steady increase in the number of 75-year-olds from the years 2010 to 2017.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): OK, but you ain’t seen nothin’ yet. Baby boomers don’t start turning 75
Read More

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

“Home Sharing: Growing Trend or Desperate Need?”

“Home Sharing: Growing Trend or Desperate Need?,” by Anthony Cirillo, U.S. News & World Report Quote: “Many baby boomers have a real desire to age in their own home, provided they’re capable and it’s safe. But sometimes the economic realities of upkeep, the need for companionship and socialization and even help around the house makes you want to consider a more formal senior community. Home sharing provides an alternative to senior living, whose costs can range from $2,500 a month in an independent community to over $100,000 a year in a skilled nursing facility.” LTC Comment (from Stephen A. Moses,
Read More

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

“Many Retirees Are Not Spending Down Their Accumulated Assets To Fund Their Retirement Needs”

“Many Retirees Are Not Spending Down Their Accumulated Assets To Fund Their Retirement Needs,” Advisor Magazine Quote: “New research by the Employee Benefit Research Institute (EBRI) finds that retirees are not spending down their accumulated assets to fund their retirement needs—even though the risk of large out-of-pocket health care costs may be modest. The EBRI Issue Brief, “Asset Decumulation or Asset Preservation? What Guides Retirement Spending?” shows that even when assets are plentiful or when there is guaranteed income available to ensure that retirees will not run out of money, rates of decumulation are low. … ‘The evidence shows that many
Read More

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

“High-quality, short-term nursing stays lower risk of seniors entering long-term care”

“High-quality, short-term nursing stays lower risk of seniors entering long-term care,” by Kimberly Marselas, McKnight’s LTC News Quote: “Seniors who seek rehab at higher-rated short term nursing facilities are less likely to transition into long-term care facilities afterward, finds a study published online first in the Journal of the American Geriatrics Society. … Investigators found that a person’s risk of eventual placement in long-term care nursing homes varied, based on the facility where they received care. Staffing ratios and inspections were most closely associated with LTC placement rate.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Read More

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

“Investors Should Still Be Skeptical About GE’s Long-Term Care Obligations”

“Investors Should Still Be Skeptical About GE’s Long-Term Care Obligations,” by Anders Keitz, The Street Quote: “General Electric Co.’s (GE – Get Report) finance unit, which is already planning to spend $15 billion over the next six years to bolster its legacy insurance portfolio, may have to add to that sum in future years, analysts said. Long-term care obligations still weigh on the Boston-based industrial conglomerate’s balance sheet, even though GE largely exited its insurance business more than a decade ago, under former CEO Jeff Immelt.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Drip, drip, drip. Investors
Read More

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

“Thought Leaders Want Alzheimer’s At The Top Of G20 Agenda”

“Thought Leaders Want Alzheimer’s At The Top Of G20 Agenda,” by Robin Seaton Jefferson, Forbes Quote: “Thought leaders, researchers and scientists from around the world last week released a Consensus Statement and Research Framework that outlines the urgent need to adopt Aging and Dementia as a theme of the G20 Summit next year, and puts forward recommendations on what exactly they want to see done about the disease that is fast becoming a global crisis.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Oh good, a lot of politicians and bureaucrats talking about Alzheimer’s. That’ll surely find a
Read More

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

New Business Amendment Enhancement

At Mutual of Omaha, we value your feedback on process improvement. As a result, the LTC New Business team has enhanced amendment processing on submitted applications. The following changes will go into effect on May 1, 2018. If your client’s application is missing information or has information that needs to be changed prior to issue, most changes can now be submitted via email or phone call. Application information submitted in this manner will require an amendment to be signed and dated by the client upon delivery of the policy. (Application changes submitted prior to policy issue will still be accepted
Read More

Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).