In this GoldenCare Newsletter Edition Read Full GoldenCare Newsletter, September 23, 2019 Edition From GoldenCare: Diversify your portfolio for greater sales success! Join us for product and sales live and prerecorded training. Stay up-to-date on all the latest and greatest in the industry. For a list of current topics and to get in on the discussion Click Here. Update Your Contracts LTCCEO Updates: Be sure you’ve got the latest version! Double click “Check for Updates” on your desktop to receive the latest update or call us at 800-842-7799! Happy Selling! Current Promotion!: Mutual of Omaha DREAM BIG Promotion ONE WEEK
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The Secret About 10-Year and Single Premium Payments
A Limited-Duration Premium Payment Option May Be Cheaper In The Long Run Limited-Duration Premium Payment Options In addition to a lifetime premium payment duration, EssentialLTC also offers limited duration premium payment options to provide the flexibility to design a policy for many consumers’ financial goals: 10-YEAR PREMIUM This option provides premiums to be paid over a 10-year period, after which no further premiums will be due. Premiums are only subject to change during the 10-year premium payment period. After the 10-year premium payment period, the policy will be fully paid-up, noncancelable, and not subject to rate increases. SINGLE
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EssentialLTC Product Introduction Guide Update
E-APP Enhancements This revamped version of the Product Introduction Guide was designed to provide key information regarding: • NGL’s focus on LTCi • NGL’s history & financials • EssentialLTC’s most popular features It also includes a brief explanation of all features within the EssentialLTC product. Use this as your go-to resource for initial information regarding NGL and EssentialLTC. If you have questions, please call NGL at (888) 505-2332 or email status@ngl-essentialLTC.com. EssentialLTC Product Introduction Guide Update #goldencareagent #ngl
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LTC Underwriting Guide Update
First announced in our April 2019 Underwriting Operation teleconference, the LTC field underwriting guide has been updated to include the newest guideline improvement: TENS units are now accepted. What are TENS units? TENS units, or transcutaneous electrical nerve stimulation units, are battery-operated devices used to treat pain. They work by delivering small electrical impulses through electrodes that have adhesive pads attached to a person’s skin and are an excellent noninvasive method for relieving pain. Clients with TENS units currently in use will be rated based on specific health condition. Review the changes on page 53 here, access the guide on
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Rate Adjustments Effective December 2019
Long-Term Care insurance (LTCi) is a core product for Mutual of Omaha and we intend to remain a key player in this market for years to come. In order to fulfill this commitment, we actively monitor emerging industry trends as well as our own experience so we can make the adjustments necessary that will allow us to keep our promises to policyholders and remain competitive in the marketplace. For this reason, we will be implementing the following rate adjustments effective December 1, 2019: Block of Business Impacted States LTC04G Arkansas, Iowa LTC04I New Mexico LTC06UI Pennsylvania, Iowa, Oklahoma, Ohio, New
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Case Study: A New LTC Producer Uses Underwriting Tools to His Advantage
Don is a new long-term care insurance agent based in St. Louis. As he learns the industry and product, Don has found it useful to carry the MutualCare® Solutions Underwriting Guide as an aid while screening clients. Recently, Don was working with a 65-year-old male applying for the Custom Solution. Having already familiarized himself with the build chart before the meeting, Don knew to quote no better than Class 1 based on the client’s height and weight. However, during the prescreen Don learned of a pre-diabetes diagnosis. Unsure how to proceed, Don consulted the Underwriting Guide. Under “Diabetes” the guide
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Good News | Coming October 1st – Mutually Well!
Announcing Mutually Well, A New Fitness & Wellness Program Mutual of Omaha has partnered with Tivity Health to provide our Medicare supplement customers with a comprehensive fitness and wellness offering called Mutually Well. Effective October 1, our Medicare supplement policyholders will have access to begin using this new program. Click below for program features and Omaha’s official press release: Announcing Mutually Well Read Full Good News Announcement Questions? Call the GoldenCare Marketing Team at 800-842-7799! Don’t forget to subscribe to our News Digest for all the latest announcements from the Top Carriers! Check out GoldenCare News
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“LTCI Policyholders Should Try to Put Up With Rate Hikes: Jesse Slome”
“LTCI Policyholders Should Try to Put Up With Rate Hikes: Jesse Slome,” by Allison Bell, ThinkAdvisor “Long-term care insurance (LTCI) policyholders who can afford to pay higher premiums should probably take a deep breath when the premiums go up and keep their current LTCI coverage in place. LTCI policyholders who can’t afford to pay the increased premiums should try to keep as much of the coverage in place as possible, by accepting one of the premium increase alternatives the issuer offers, or by calling up and ask if the insurer will consider allowing some other arrangement. Jesse Slome, the director
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Clippings, Industry News, and Long-Term Care.
“Medicaid’s Dark Secret”
“Medicaid’s Dark Secret,” by Rachel Corbett, The Atlantic “‘It’s Medicaid, a low-income program, that has by default turned into our long-term-care system, and that is absolutely unsustainable,’ Matt Salo, the executive director of the National Association of Medicaid Directors, told me. Defenders of estate recovery see it both as a way to control the high costs of long-term care and as a necessary check on those who could pay for such care but would rather the government foot the bill. (Nursing homes cost $89,000 a year, on average, for a semiprivate room.) Medicaid, Salo told me, is already struggling to
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Clippings, Industry News, and Long-Term Care.
“Industry will need to get creative to address middle market needs, groups suggest at NIC meeting”
“Industry will need to get creative to address middle market needs, groups suggest at NIC meeting,” by Lois A. Bowers, McKnight’s Senior Living “Creating tax incentives, separating services from housing, repurposing existing facilities such as malls, partnering with health systems or other third parties, opening up residency to other groups, emphasizing wellness in programming. Those were some of the ideas that five ‘hackathon’ teams of industry experts came up with during a session at the National Investment Center for Seniors Housing & Care Fall Conference to help the industry serve middle-income older adults in the coming years.” LTC Comment (from
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Clippings, Industry News, and Long-Term Care.
