In this GoldenCare Newsletter 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 LTC CEO Office, Home and Internet Selling Tools Software has been updated! This Must-Have Resource can dramatically increase your LTC sales, providing sales presentations, calculators, pre-recorded training, instruction for successful Internet Selling, LTC resources, and MORE! Find out how to get your copy free! Announcement: Remembering Wild Kingdom’s Jim
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“A Slice’ of the 2019 ILTCI Conference”
“‘A Slice’ of the 2019 ILTCI Conference,” Drinker Biddle “Drinker Biddle is pleased to present you with this recap—or “a slice” of the 2019 ILTCI Conference, Chicago, Illinois. Year after year, the ILTCI Conference is jam-packed with opportunities to reconnect with and learn from our industry peers and friends. In fact, there is so much happening that it is nearly impossible to catch even a fraction of all of the valuable presentations and panel discussions throughout the conference. The long-term care industry is booming with new ideas, innovations, strategies, and tactics. The Conference affords attendees with the opportunity to explore
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Clippings, Industry News, and Long-Term Care.
“Health Affairs Events”
“Health Affairs Events,” Health Affairs Blog “Past Event: Seniors in the ‘Middle Market’ Many Seniors Will Be Unable To Afford Housing and Health Care by 2029 FREE ACCESS to the Research Article presented at this event and study content: ‘The Forgotten Middle: Many Middle-Income Seniors Will Have Insufficient Resources For Housing And Health Care’” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Health Affairs has offered free access to the article we critiqued in LTC Bullet: Remember the Middle, May 10, 2019. Read ‘em both and reach your own conclusions.
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Clippings, Industry News, and Long-Term Care.
“Nationwide Adds Life-LTC Hybrid”
“Nationwide Adds Life-LTC Hybrid,” by Allison Bell, ThinkAdvisor “Life insurance units of Nationwide Mutual Insurance Company will be issuing a new product that combines universal life insurance with cash indemnity long-term care (LTC) benefits. The new Nationwide CareMatters II policy is an updated version of a product introduced in 2014. One change is an expansion in access to the product. In the past, the target market for the product was ages 40 to 65. Nationwide now allows issue ages from 30 to 75. Some details may differ from state to state.” LTC Comment (from Stephen A. Moses, President, Center for
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Clippings, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Missouri (PCS I, Choice 1)
> Choice 1 with Stable Premium Option 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. Missouri has now allowed the following increases: Missouri Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods PCS I 55% 72% Choice 1 55% 72% 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
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Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Mississippi (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. Mississippi has now allowed the following increases: Mississippi Non-AARP Product Series Increase Percentage Privileged Choice 16% Classic Select 16% Mississippi AARP Product Series Increase Percentage Privileged Choice 17.2% Classic Select 17.2% 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 May 28, 2019 and will
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Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Massachusetts (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. Massachusetts has now allowed the following increases: Massachusetts Product Series Increase Percentage Privileged Choice 40% phased 13.3%, 13.3%, 13.4% Classic Select 40% phased 13.3%, 13.3%, 13.4% 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 May
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Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Georgia (PCS II, Choice 1)
> PCS II with Stable Premium Option > Choice 1 with Stable Premium Option 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. Georgia has now allowed the following increases: Georgia Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods PCS II 18% 18% Choice 1 18% 18% This rate increase applies to Non-AARP, non-partnership policies only. Communications Timeline Servicing agents will receive a list
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Genworth, Industry News, and Long-Term Care.
LTC Cost of Care Tools Updated with 2018 Numbers
We’ve seen a 650% increase in long-term care costs over the past 14 years.1 Unfortunately, costs aren’t going down, either. As you’ll see in our newly updated Cost of Care Study, prices continue to rise in every US state, for every level of care. View Cost of Care Study → With these statistics, the evidence is clear: long-term care insurance is essential to protect the financial future of your clients and their families. Not to mention, it keeps them happy, in their home, and surrounded by those they love. To see how these rising costs are
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EssentialLTC Product & Materials Update
Updated Tax Summary New & improved! Updated information for 2019 and additional information across the board. Updated Tax Summary Updated Agent Guide Updated Employer/Association Group Guideline section to include Employer Group rate class (where available) and minimum participation requirements. Be sure you have the most recent version of this go-to administrative guide and check for a 3/19 revision date on the bottom of the content pages. Updated Agent Guide Other Recently Updated Marketing Materials Product Features & Sales Ideas — learn about the highlights of the EssentialLTC product with corresponding sales ideas Product Summary — updated
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