Performance LTC (PLTC) declared crediting rate change

Effective March 1, 2018 the declared crediting rate for inforce PLTC policies will change. For national PLTC policies the declared rate will reduce from 6.00% to 5.70%. For PLTC policies issued in New York, the declared rate will reduce from 5.75% to 5.45%. PLTC policyholders’ Annual Statement will reflect this change. Performance LTC (PLTC) declared crediting rate change   #goldencareagent #johnhancock
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Categories: Industry News, John Hancock, and Long-Term Care.

Partnership eligibility for Performance LTC (PLTC) policyholders in Virginia

After a recent review, the Virginia Insurance Department has changed the criteria for Partnership eligibility. As a result, Performance Long-Term Care policyholders with issue ages under age 61, and annual 3% Compound Inflation protection will now be eligible for Partnership under the Virginia Partnership for Long-Term Care Program, as long as the policyholder continues with the annual 3% increases. We will be communicating to these policyholders next week, informing them of this change, and providing them with a Partnership Disclosure Notice to keep with their records. Partnership eligibility for Performance LTC (PLTC) policyholders in Virginia   #goldencareagent #johnhancock
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Categories: Industry News, John Hancock, and Long-Term Care.

Next Round of In-force Rate Action Notifications to Take Place in Late March

In late March, we will begin policyholder notifications on the next round of John Hancock and Fortis policies impacted by the in-force rate actions, which will have an effective date beginning with anniversaries on or after July 1, 2018. The 2016 rate action notifications will include John Hancock LTCI individual policies originally issued in Connecticut and Pennsylvania. Also impacted are John Hancock LTCI individual Interstate Compact approved policies in Maryland, Minnesota, Nebraska, Ohio, Pennsylvania and Utah. The 2013 rate action notifications will include Fortis LTCI individual policies originally issued in Illinois. Finally, we will continue the implementation of the 2013
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Categories: Industry News, John Hancock, and Long-Term Care.

GoldenCare Newsletter | December 19, 2016 Edition

From GoldenCare: Ring in 2017 with our End-Of-Year Grand Finale!  Catch up on all the moves, shake-ups and changes that happened in 2016 and get a jump on your success in 2017. Reserve your seats: Wed, Dec 28, 2016 10:00 AM  to  10:30 AM CST Thurs, Dec 29, 2016 2:00 PM  to  2:30 PM CST Our Guest Article is “The Tax Benefits of Long Term Care Insurance” by Maryalene LaPonsie, U.S. News and World Reports.   Enjoy! Minnesota Life / Securian now has Client Videos on YouTube!  See the newsletter to check out some of their most popular videos. GTL has
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Categories: Genworth, GoldenCare News, Guarantee Trust Life, Industry News, John Hancock, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).

Required Information for North Carolina Distribution Partners

Important Notice to our North Carolina LTC Distribution Partners and Producers regarding the Discontinuance of Individual LTC Insurance Sales As detailed in our November 10, 2016 Newslink, after a recent analysis of the macro-economic trends facing the long-term care (LTC) insurance industry, we have made the difficult decision to discontinue sales of our individual LTC insurance policies in all states. PLEASE NOTE: In North Carolina, we are discontinuing sales of the policy series ICC14-LTC-15 and ICC14-LTC-15U. As many of you well know, the distribution landscape for LTC insurance has shrunk significantly since the peak of the industry in 2002. Today,
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Categories: Industry News, John Hancock, and Long-Term Care.

Next Round of In-force Rate Action Notifications to Take Place in Late December

In late December, we will begin policyholder notifications on the next round of John Hancock and Fortis policies impacted by the in-force rate actions, which will have an effective date beginning with anniversaries on or after March 1, 2017. We will continue the implementation of the 2013 rate increase for John Hancock LTCI individual policies originally issued in Arkansas and Oregon for policyholders who have received an initial “capped” or “phased-in” increase. Also impacted as Fortis LTCI individual policies originally issued in Ohio, Oregon, Nevada and West Virginia. Additionally, we will continue the implementation of the 2010 rate increase for
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Categories: John Hancock and Long-Term Care.

GoldenCare Newsletter | November 21 2016 Edition

In this GoldenCare Newsletter Edition From GoldenCare: The GoldenCare Office will be closed Thurs, November 24th &  Fri, November 25th, for the Thanksgiving Holiday. Please see the newsletter for details on our current promotions! ★ 3-in-1 Promotion (Mutual of Omaha LTCi & Minnesota Life CareShield) The Race To The Finish Line Has Begun! ★ CareShield Sales Incentive Program Downtime during the holidays is the perfect time to brush up on sales skills or learn a new product!   Check out our hot webinar topics and join us for a product demo. Our Guest Article is “Majority of Consumers Nearing or in
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Categories: Genworth, GoldenCare News, Industry News, John Hancock, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).

Important Update on our Individual LTC Insurance Products

This is to inform you of an important development concerning our long-term care (LTC) insurance product portfolio. John Hancock has recently completed another comprehensive claims study, which we generally conduct every three years and which examines the usage trends for our insured population. Similar to our previous analysis, the new data demonstrates that claims, particularly at higher ages, continue to last longer than expected, and more policyholders are initiating claims at older ages than previously expected. Based on that data, we have determined that there is a need to increase premiums on certain policy series. As a result, this month,
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Categories: John Hancock and Long-Term Care.

Good News | Omaha Announces Their Continued Commitment To The Market

Amidst Industry Unrest, Omaha Announces Their Continued Commitment To The Market In the wake of John Hancock’s announcement about exiting the Individual LTCi market, many agents are left feeling uneasy. Especially considering LifeSecure’s exit was mere weeks ago. Mutual of Omaha just made an announcement reiterating their commitment to the long-term care insurance market. Click Here to read Mutual of Omaha’s announcement. With this line of business being so incredibly important…   Continued… Read Full Good News Announcement
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Categories: GoldenCare News, Industry News, John Hancock, Life Secure, Long-Term Care, and Mutual of Omaha (& Affiliates).

Important Notice: Discontinuance of Individual LTC Insurance Sales

November 10, 2016 To our LTC Distribution Partners and Producers: After a recent analysis of the macro-economic trends facing the long-term care (LTC) insurance industry, we have made the difficult decision to discontinue sales of our individual LTC insurance policies in all states. As many of you well know, the distribution landscape for LTC insurance has shrunk significantly since the peak of the industry in 2002. Today, there are far fewer outlets through which individual LTC insurance is sold, impacting the growth potential of the product. In addition, consumer demand for individual LTC insurance has fallen and remains stagnant. These
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Categories: Industry News, John Hancock, and Long-Term Care.