With the recent Partnership policy approval in select states, we are happy to announce that the exchange of eligible National Guardian Life (NGL) EssentialLTC policies is scheduled to occur in the following four states: Maine Missouri North Carolina Nevada Exchanges of eligible EssentialLTC policies in these states are scheduled to begin March 12, 2019. Eligibility for Automatic Exchange to a Partnership Policy To be considered as eligible for an automatic exchange to a Partnership policy, the inforce EssentialLTC Long Term Care insurance policy would need to meet all of the following LTC Partnership eligibility requirements. active policy issued and
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In-Force Rate Action Announcement: Oklahoma (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. Oklahoma has now allowed the following increases: Oklahoma Product Series Increase Percentage Privileged Choice 10% Classic Select 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 the start of policyholder notifications. Policyholder notifications will begin March 19, 2019 and will continue throughout the next
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Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: North Carolina (PCS I)
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. North Carolina has now allowed the following increases: North Carolina Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods PCS I 95.31% phased 25%, 25%, 25% cumulative 95.31% phased 25%, 25%, 25% cumulative This rate increase applies to non-AARP, non-partnership policies for policies issued before 2/1/2003. Communications Timeline Servicing agents will receive a list of their
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Genworth, Industry News, and Long-Term Care.
Our Term Upsell Program Gives You New Opportunities
Oftentimes, clients will select their term coverage level based on their budget, even if they may actually have a need for more coverage. If you have a client who gets approved better than applied for, this is the perfect time to use the Term Life Answers Upsell Program since they can potentially get more coverage and still be within their budget. Agents who are consistently talking to their client about the upsell offer have found great success. Since we started offering the upsell opportunities, we’ve had a 15 percent acceptance rate with the average increase being just over $275,000 per
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Help Your IUL Clients Prepare for Their Annual Statements
An important part of selling an IUL policy is helping your clients prepare for what to expect when they receive their annual statement. Preparing your clients in advance will hopefully result in fewer unanswered questions when they reach their policy anniversary. We have provided the answers to a few of the questions clients typically have on their first annual statement. If the index increased, why am I not seeing any index interest credits? For life insurance policies, annual statements must be created the day prior to the anniversary date. On an IUL, index interest is not credited until the segment
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Medicare News – Omaha Family of Companies
Medicare Supplement: Upcoming Med Supp Rate Adjustments Please view the upcoming Med supp rate adjustments in AZ, AL, CO, MD, MS, NM, OR, SD, and TN. Upcoming Med Supp Rate Adjustments Please view the upcoming Med supp rate adjustments in AL, MS, NJ, TN and UT. Med Supp Modernized Rate Release Please view the Modernized Rate Release in KY, NV and UT. CMS Has Mailed All New Medicare Cards! The Center for Medicaid and Medicare Services (CMS) states that all new cards have been mailed to individuals with Medicare. Med Supp Conference Discount During March and
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LTC13 New York Issue Age Notice
Effective March 1, 2019, the maximum issue age for LTC13 in the state of New York is age 75. Any application received on or after March 1, 2019, with the client over the age of 75, will be ineligible for coverage. This change impacts New York only. Other states will not be affected. Mutual of Omaha’s LTC portfolio is very competitive with product pricing, built-in benefits and optional features, enabling you to easily tailor a plan which protects your client’s financial future. If you have any questions or want to learn more about our long-term care solutions, please reach out
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Critical Advantage℠ Has Coverage for the Whole Family
Almost everyone knows someone who has had one of the covered conditions in the Critical Advantage portfolio. Unfortunately, many of those people may be family members. All the products in the Critical Advantage portfolio offer individual, individual plus children and family coverage. Family coverage includes your client’s partner and all dependents who are under age 26. Either partner can be the primary insured on a family policy, but the premium is based on the oldest insured. Children are eligible for a maximum amount of coverage of $50,000 each and the premium is the same regardless of the number of children
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For your older clients — life insurance with guaranteed acceptance
Gerber Life Guaranteed Life At Gerber Life, our Guaranteed Life insurance policy makes providing peace of mind to families simple. It enables your clients to obtain up to $25,0001 in coverage to pay their final expenses — and it comes with an added advantage. Acceptance is guaranteed, regardless of health. WHY YOUR CLIENTS SHOULD CONSIDER COVERING FINAL EXPENSES WITH GERBER LIFE As a reminder, we created Gerber Life’s Guaranteed Life for clients between 50 and 80 years old who are looking for insurance to cover their final expenses, whether as a late entry to life insurance, or to help offset
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OneAmerica Pending Policy Update
“From” address changing on OneAmerica® pending policy emails On Friday, March 8, we’re changing the “from” address for pending business status and underwriting status emails. The new “from” address will be an unmonitored email account at OACaseManagement@oneamerica.com. This change will ensure compatibility with Office 365. If you’ve set up mailbox rules to filter these emails by the “from” address, you’ll need to modify the mailbox rules by Thursday, March 7. Questions? Contact OneAmerica’s Field Tech Support team with questions at fieldtechsupport.ind@oneamerica.com. OneAmerica Pending Policy Update #goldencareagent #oneamerica
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