Form Required 8/1; Revised Application Required 10/1

Model Replacement Form Required Aug. 1, 2017, Newly Revised MO Application required 10/1/2017 Effective August 1, 2017, the Model Replacement form (REPL-2000) is required to be completed and submitted with new business paperwork whenever a proposed insured states they have existing insurance coverage, even if they don’t plan on replacing that coverage. The REPL-2000 replaces the existing Model Replacement form, form MO-R1. This form is required for Individual Life and Annuity agents/producers; Missouri Preneed agents/producers are exempt from this change.   The MO application form 2735FE has also been revised to accommodate the State of Missouri’s Model Replacement requirement; a
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Categories: Industry News, Life Insurance, and National Guardian Life.

In-Force Rate Action Announcement: Wisconsin (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. In September 2013, we began to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. Subsequently, we received approval for, and implemented, a 12.8% premium increase in Wisconsin. At the time, a larger increase was justified, based on projected experience, but rate stability requirements prevented us from requesting the fully justified amount. In 2016, we began requesting the
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Categories: Genworth, Industry News, and Long-Term Care.

NGL: Introducing Benefits Buddy

EssentialLTC just got easier to quote with the release of Benefits Buddy! Download the new Premium Calculator – which now reflects a visually interactive Benefits Buddy tool – to build out the case design that will win over your clients. It’s as easy as 1,2… that’s it! Benefits Buddy will allow you to create your LTCi solution based on your client’s budget. Once you determine risk class, you can customize individual or joint plans. Thanks to Benefits Buddy, you can easily hit that target premium for coverage suitable to your client’s needs. Download Benefits Buddy   Need help? If you
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Categories: Industry News, Long-Term Care, and National Guardian Life.

“Insurance pays little for caregiving of elderly at end of life”

“Insurance pays little for caregiving of elderly at end of life,” by Ronnie Cohen, Reuters “Unpaid family and friends provide the overwhelming majority of care to the elderly in their last year of life, according to a new study highlighting the need to expand supportive services to caregivers. . . . In 2011, 2.3 million caregivers tended to the needs of an estimated 905,000 older Americans in their final year of life, the report in Health Affairs found. Nearly 9 in 10 of the caregivers were unpaid, and only 9 percent of dying older adults received money for caregiving from
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Categories: Industry News and Long-Term Care.

“2 of 3 Americans Don’t Have ‘Advance Directive’ for End of Life”

“2 of 3 Americans Don’t Have ‘Advance Directive’ for End of Life,” by Robert Preidt, HealthDay “The research looked at data from more than 795,000 Americans. Just 29 percent had completed a living will that contained specific end-of-life care wishes, and 33 percent had designated a health care power of attorney. Completion of advance directives was slightly higher among patients with chronic illnesses (38 percent) than among healthy adults (33 percent), and much higher among patients 65 and older (46 percent) than among younger adults (32 percent), the findings showed.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term
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Categories: Industry News and Long-Term Care.

“One Woman’s Slide From Middle Class to Medicaid”

“One Woman’s Slide From Middle Class to Medicaid,” by Ron Lieber, New York Times “A dozen or so years into retirement, Rita Sherman had plenty going for her financially. Recently widowed, she had a net worth of roughly $600,000 as of 1998. Her health was excellent, and she dutifully purchased a long-term care insurance policy that would cover three years of nursing home costs should she ever need help. Watching over it all was her daughter, a medical social worker, and her son-in-law, a financial planner. By the time she died at the age of 94 last year, however, all
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Categories: Industry News and Long-Term Care.

“Serious head injuries nearly double your risk of dementia”

“Serious head injuries nearly double your risk of dementia,” by Andy Coghlan, New Scientist “Serious head injuries nearly double a person’s risk of developing dementia. That’s the message from an analysis of over 40,000 people who sustained some kind of head injury between 1986 and 2014. Half the people in the study had moderate-to-severe head injuries, which cause lesions in the brain and require a person to stay in hospital for three days or more. The other half had milder head injuries with no lesions, and were able to go home within a day. Comparing the longer-term health of these
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Categories: Industry News and Long-Term Care.

“Falls associated with higher rate of adverse events than previously thought”

“Falls associated with higher rate of adverse events than previously thought,” by Lois A. Bowers, McKnight’s Senior Living “Newly published research offers a reason for more urgency for the prevention of falls in senior living residents and other older adults. The investigators found that 50.3% of adults aged 65 or more years who visited an emergency department because they were injured in a fall experienced adverse events — including additional falls, hospitalization or death — within six months after the visit. Their findings were published online Wednesday in the journal Annals of Emergency Medicine.” LTC Comment (from Stephen A. Moses, President,
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Categories: Industry News and Long-Term Care.

“Can poor sleep lead to Alzheimer’s?”

“Can poor sleep lead to Alzheimer’s?,” by Sandee LaMotte, CNN “One in three Americans doesn’t get enough sleep, and 45% of the world’s population doesn’t, either. The US Centers for Disease Control and Prevention calls that a ‘public health problem,’ because disrupted sleep is associated with a higher risk of conditions including diabetes, stroke and cardiovascular disease. . . . A few studies in cognitively normal people and one in mice have shown a connection between chronic sleep disruption and the development of amyloid plaques. The research in mice was particularly interesting because it showed that mice who slept well
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Categories: Industry News and Long-Term Care.

“Poor Patient Care at Many Nursing Homes Despite Stricter Oversight”

“Poor Patient Care at Many Nursing Homes Despite Stricter Oversight,” by Jordan Rau, New York Times “While special focus status is one of the federal government’s strictest forms of oversight, nursing homes that were forced to undergo such scrutiny often slide back into providing dangerous care, according to an analysis of federal health inspection data. Of 528 nursing homes that graduated from special focus status before 2014 and are still operating, slightly more than half — 52 percent — have since harmed patients or put patients in serious jeopardy within the past three years. . . . Yet, despite recurrences
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Categories: Industry News and Long-Term Care.