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 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 policyholder notifications. Policyholder notifications will begin February 6, 2018 and will continue throughout the
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Maine (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. Maine has now allowed the following increase: Maine Product Series Increase Percentage Privileged Choice 11.5% Classic Select 11.5%     This rate increase applies to Non-AARP 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 February 6, 2018 and will continue throughout the next year.
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Delaware (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. Delaware has now allowed the following increases: Delaware Non-AARP Product Series Increase Percentage Privileged Choice 25% Classic Select 25%     Delaware AARP Product Series Increase Percentage Privileged Choice 20% Classic Select 20%     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 February 6, 2018
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Categories: Genworth, Industry News, and Long-Term Care.

2018 Partnership Minimum Benefit Requirements for Indiana

Each year Indiana revisits its minimum benefit requirements to qualify for its Partnership program. The Total Asset Protection for the Indiana Partnership program has increased from $353,773 in 2017 to $371,462 for 2018. The Benefit Increase Options and Daily or Monthly Minimum requirements remain unchanged as follows: Requirements 2017 2018 Minimum Total Coverage for Total Asset Protection $353,773 $371,462 Minimum Daily Benefit $115 $115 Minimum Monthly Benefit $3,500 $3,500 Benefit Increase Option age 74 and younger 5% Compound 5% Compound Benefit Increase Option age 75 and older 5% Simple 5% Simple   Indiana Partnership minimum requirements are based on effective
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Categories: Genworth, Industry News, and Long-Term Care.

Accelerated Benefit Rider Materials Updated for 2018

We offer Accelerated Death Benefits for Terminal Illness and Chronic Illness which give clients an option to access a portion of their death benefit early. This money can provide a little more comfort during a difficult time or can be used to help cover the costs of long-term care. For the Chronic Illness Rider, the benefit amount is capped each year by the IRS per diem limit. For 2018, this limit has remained at $360 per day (or $131,400 for the year). The following materials have been updated to reflect the extension of the per diem limit into 2018: Accelerated
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

LTCi Protecting Your Client’s Retirement Assets

When the need for long-term care services arises, having an insurance policy in place to help cover the cost of care may help ensure your client’s retirement assets can remain intact. This added measure of protection may also provide: Control Helps your client avoid the need to liquidate assets to pay for long-term care services, leaving their retirement assets intact for their intended purpose. Flexibility Helps allow your client to maintain the retirement lifestyle they planned while also receiving policy benefits to help pay for the care they need. A Legacy Helps ensure sufficient assets remain in their estate to
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

Visit the New Life Learning Center on SPA

If you are looking for product information and sales ideas, turn to our new Life Learning Center section on the Sales Professional Access website. The Learning Center includes flyers, as well as a number of short videos so you can quickly learn more about our products and how they can benefit your clients Simply go to Sales Professional Access (www.mutualofomaha.com/broker), go to the Life Sales Tools page and choose from Product Education, Sales Ideas and Competitive Information.   Visit the New Life Learning Center on SPA   #goldencareagent #mutualofomaha
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Transamerica Long Term Care Update: NJ Pricing Revision

STATE OF NEW JERSEY PRICING REVISION FOR TRANSCARE® II AND TRANSCARE® III January 24, 2018 Transamerica Life Insurance Company remains committed to you and to the long term care insurance market. As such, it’s important that we modify our premium rates for new TransCare® II  and TransCare® III  business to reflect actual claims experience by policyholders. These rate changes will also maintain consistency in our pricing across our product portfolio which will allow Transamerica Life Insurance Company to remain highly competitive within the marketplace. These refreshed rates are exclusively for new sales of TransCare® II  and TransCare® III  in the
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Categories: Industry News and Long-Term Care.

GTL’s Short-Term HHC Insurance now in CO and RI

GTL’s Short-Term Home Heatlh Care Insurance Now Available In Colorado & Rhode Island •   $150, $300 or $450 maximum daily benefit options! •   Great cross-selling opportunity and complements our other great products! •   Available on paper only. Coming soon on the e-App! •   Prescription benefit year maximum of $300 or $600! •   $40, $80 or $120 per-day Home Health Care Aide benefits! •   Policyholder Access to Ask Mayo Clinic Nurseline and Critical Illness Support!     Do your clients take prescription medications? Would they like access to Ask Mayo Clinic? Sign up for our webinar and learn how your clients
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Categories: Guarantee Trust Life, Industry News, and Short-Term Care.

A.M. Best Affirms Mutual of Omaha’s Financial Rating

A.M. Best performed their annual rating committee review on Mutual of Omaha and affirmed our financial strength rating of A+ (Superior) with a stable ratings outlook. The ratings reflect our balance sheet strength, which A.M. Best categorizes as very strong, as well as our strong operating performance, favorable business profile and appropriate enterprise risk management. Mutual of Omaha’s favorable business profile is anchored by its diversification of products, as well as distribution channels and our capitalization level is very strong and is considered favorable relative to our peers. Randy Mousel National Sales Director (952) 239-9865   A.M. Best Affirms Mutual
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).