In-Force Rate Action Announcement: Nevada (Pre-PCS, PCS I)

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. Nevada has now allowed the following increases: Nevada Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods Pre-PCS 51.8% phased* 11%, 11%, 11%, 11% cumulative 136.4% phased* 24%, 24%, 24%, 24$ cumulative PCS I 66.4% phased* 18.5%, 8.5%, 18.5% cumulative 84.3% phased* 22.6%, 22.6%, 22.6% cumulative       This rate increase applies to non-AARP, non-partnership policies
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: New Jersey (Pre-PCS, PCS I, PCS II)

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. Alabama has now allowed the following increase for New Jersey certificates issued under a group master policy issued to a trust in Alabama: New Jersey Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods Pre-PCS 39% 72% PCS I 55% 72% PCS II 55% 72%       This rate increase was filed and approved in accordance
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Kentucky (PCS II, Choice 1)

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. Kentucky has now allowed the following increases: Kentucky Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods PCS II 20% 30% Choice 1 41.1% phased 30%, 8.5% cumulative 52% phased 30%, 16.9% cumulative       This rate increase applies to Non-AARP, non-partnership policies only. Communications Timeline Servicing agents will receive a list of their impacted policyholders
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Alabama (Pre-PCS, PCS I, PCS II, Choice 1)

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. Alabama has now allowed the following increases: Alabama Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods Pre-PCS 39% 72% PCS I 55% 72% PCS II 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
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Alabama (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. Alabama has now allowed the following increases: Alabama Product Series Increase Percentage Privileged Choice 26.6% Classic Select 26.6%     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 November 6, 2018 and will continue throughout the next year.
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Categories: Genworth, Industry News, and Long-Term Care.

A MutualCare Solutions Policy Gives Clients Peace of Mind

Along with the great benefits that come with a MutualCare Solutions policy, Mutual of Omaha also has fantastic customer service. Watch the video below from a customer whose mother owned a long-term care policy and how it helped keep her nest egg for her grandchildren.   If you have any questions, please contact your Mutual of Omaha’s Sales Support at (800) 693-6083 or email sales.support@mutualofomaha.com.   A MutualCare Solutions Policy Gives Clients Peace of Mind   #goldencareagent #mutualofomaha
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

Omaha 2018 End-of-Year Pay Schedule

Mutual of Omaha and its affiliates (United of Omaha, Companion Life Insurance Company, and United World) will be closed on the following days: Thanksgiving: Thursday, November 22, 2018 Day After Thanksgiving: Friday, November 23, 2018 Christmas Eve: Monday, December 24, 2018 Christmas Day: Tuesday, December 25, 2018 New Year’s Eve: Monday, December 31, 2018 New Year’s Day: Tuesday, January 1, 2019 The past pay cutoff in 2018 is December 28 for Life and December 27 for Health. This is the last pay cycle to be paid in 2018. Holiday Date Holiday Observed Life Cutoff (New issues & renewals) Check Distribution
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Categories: Critical Illness, Disability Income Insurance, Industry News, Life Insurance, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).

South Dakota Approves Lower Inflation Rates for Partnership

Lower inflation rates now qualify for Partnership status in South Dakota. This change will be implemented on November 1, 2018. LTC13 applications signed in South Dakota on or after September 7, 2018 will determine Partnership qualification based on these new guidelines. Software Information South Dakota partnership will be updated for MutualCare® Solutions November 1 and on Winflex January 1. Please remember to keep your Winflex or MutualCare® Solutions software up-to-date by downloading the latest version from SPA. View states with approved Partnership and details here. For additional details on Partnership policies and information visit our Partnership page on SPA. If
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

MutualCare® Solutions Software Update!

Update Now Available! Effective November 1, 2018, an updated version of the MutualCare® Solutions software became available — version 3.54.0.0. To run illustrations for Mutual of Omaha’s MutualCare® Custom Solution & Secure Solution plans, please update your software: Click here to download the software.   NOTE: Your current version of the MutualCare® Solutions software may show the following button in the upper right corner. If clicking does not initiate the download, you will need to re-download the software (click the link provided above).   #goldencareagent #mutualofomaha
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Categories: GoldenCare News, Long-Term Care, and Mutual of Omaha (& Affiliates).

Genworth Financial Announces Third Quarter 2018 Results

10/30/18 Net Income Of $146 Million And Adjusted Operating Income Of $145 Million RICHMOND, Va., Oct. 30, 2018 /PRNewswire/ — Delaware Department Of Insurance Announces Public Hearing On Proposed Transaction With China Oceanwide Holdings Group Co., Ltd (Oceanwide) U.S. Mortgage Insurance (MI) Adjusted Operating Income Of $118 Million, Increased 62 Percent Compared To Third Quarter Of 2017 U.S. MI’s PMIERs1 Sufficiency Ratio At 130 Percent, In Excess Of $750 Million Above Current Requirements And More Than $550 Million Above The Revised Standards (PMIERs 2.0) Effective First Quarter Of 2019 $78 Million Of Dividends To The Holding Company Due To Strong
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Categories: Genworth, Industry News, and Long-Term Care.