“What Are The Best Coverage Options For Long-Term Care Insurance,” by Wade Pfau, Forbes

“This is the second part of a series. Read part one here.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): FYI. What Are The Best Coverage Options For Long-Term Care Insurance #goldencareagent
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Categories: Industry News, Linked Benefit/Hybrids, and Long-Term Care.

“What Are The Best Coverage Options For Long-Term Care Insurance,” by Wade Pfau, Forbes

“This is the first part of a series. “Both traditional and newer hybrid insurance policies carry a number of parameters and options to consider. At the most basic level, you should consider:     • How much times passes before benefits start,     • How much benefits are provided per time period,     • How long benefits are provided, and     • The total benefit pool available to be used. “There are other important considerations as well, which we will delve into.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): I’m not sure how this piece jibes with a recent one
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Categories: Industry News, Linked Benefit/Hybrids, and Long-Term Care.

“Hybrid Long-Term Care Insurance Policies,” by Wade Pfau, Forbes

“Attempts to combat concerns about traditional long-term care insurance have resulted in combination or hybrid products using an asset-based approach to fund long-term care.  These new approaches generally combine long-term care funding with life insurance or an annuity.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): This is the latest in a series of articles on LTC insurance by this author.  Having most recently criticized traditional LTCI policies, he addresses hybrids based on life insurance in this piece. Hybrid Long-Term Care Insurance Policies #goldencareagent
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Categories: Industry News and Linked Benefit/Hybrids.

“The Benefits and Drawbacks of Buying an Annuity Doubler to Pay for Long-Term Care,” ElderLawAnswers

“An annuity is a contract with an insurance company under which the consumer pays the company a certain amount of money and the company sends the consumer a monthly check for the rest of his or her life, or for a certain term. Immediate annuities are a way to receive a guaranteed income for life and can be useful in Medicaid planning.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Annuities can be put to good or bad use in long-term care planning. We addressed both in LTC Bullet:  LTC Annuities:  To Get or Avoid Medicaid?,
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Categories: Industry News and Linked Benefit/Hybrids.

December 18, 2015: Deadline for Total Living Coverage Delivery Requirements

Genworth’s final commission cycle will be on December 23rd 2015 for all Total Living Coverage Insurance. Deadline for inclusion in the 2015 production payment cycle is December 18, 2015. All delivery requirements received “in good order” on or before December 18, 2015 will be processed in time to be included in the last 2015 production payment cycle. If necessary, consider using express mail to ensure Genworth receives delivery requirements in time to meet this deadline. Checks with delivery requirements must be received at the home office no later than 12 noon EST, Friday, December 18, 2015. Delivery requirements received after
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Categories: Genworth and Linked Benefit/Hybrids.

Reminder: Total Living Coverage® Credited Interest Rate Change

Genworth Life Insurance Company (Genworth Life) has made the decision to lower the Total Living Coverage® (TLC) credited interest rate from 3.85% to 3.60% on new policies. This change will be effective October 19, 2015. This change will not affect the TLC product available in CA, HI and NY. For Genworth’s reminder on the TLC’s credited interest rate, Click Here. #goldencareagent
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Categories: Genworth and Linked Benefit/Hybrids.

State Replacement Regulations Reminder For All Insurance Products

Please remember that all states have regulations governing replacement and/or churning activity. Replacement regulations require additional paperwork to be provided to the applicant/annuitant and submitted with the application. Failure to comply with regulatory requirements will result in processing delays for you and your client(s). In addition, the Genworth companies (Genworth) have adopted and published a Replacement Policy that details the company’s position on replacement activity. To read the policy in its entirety, click the link below: State Replacement Regulations Reminder For All Insurance Products #goldencareagent
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Categories: Genworth, Linked Benefit/Hybrids, and Long-Term Care.

Total Living Coverage® Credited Interest Rate Change

Genworth Life Insurance Company (Genworth Life), has made the decision to lower the Total Living Coverage® (TLC) credited interest rate from 3.85% to 3.60 on new policies. This change will be effective October 19, 2015. This change does not affect the TLC product available in CA, HI and NY. Total Living Coverage® Credited Interest Rate Change #goldencareagent
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Categories: Genworth and Linked Benefit/Hybrids.