Good News | Consumer Videos Now on YouTube

Check it out – Consumer videos now on YouTube Looking for an easy way to access and share our consumer videos? You’re in luck! Check out Securian’s YouTube channel to view some of our most popular videos, including: • Benefits of Term Life Insurance • Benefits of Permanent Life Insurance • Understanding Cash Value Life Insurance • Life Insurance as a Financial Tool (LIFT) Overview Don’t forget to subscribe to Securian’s YouTube channel, so you never miss out on our latest video updates! Check it out – Client videos now on YouTube Click here to add Minnesota Life/Securian products to
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Categories: GoldenCare News, Industry News, and Long-Term Care.

2017 Partnership Minimum Benefit Requirements for CA, CT, IN and NY

Each year, the original Partnership states (CA, CT, IN and NY) revisit and adjust minimum benefit requirements to qualify for their Partnership programs. The following information outlines the changes for 2017. Connecticut To qualify for Partnership in Connecticut, policies must meet these minimum daily/monthly benefit requirements: Requirements 2016 2017 Minimum Daily Benefit $256 $265 Minimum Monthly Benefit $7,787 $8,061   Indiana The daily and monthly Partnership minimums for policies issued in Indiana will not change in 2017. There is a new minimum total coverage amount for total asset protection. Requirements 2016 2017 Minimum Total Coverage for Total Asset Protection $336,927
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Categories: Genworth and Long-Term Care.

In-Force Rate Action Announcement: Delaware (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. In September 2013, we announced our intention to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. Subsequent to that announcement, we received approval for, and implemented, a 12.8% premium increase in Delaware. At the time, a larger increase was justified, based on projected experience, but rate stability requirements prevented us from requesting the fully justified amount. In
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Categories: Genworth and Long-Term Care.

“Can simplification save protection?,” by Amanda Newman Smith, Money Marketing

“So how are critical illness insurance providers responding to the need for simple and affordable products when this area can be highly complex and expensive? And can the simplification process only work if the products themselves are simple?  …  For product providers, the result is a trade-off between the simplicity required by consumers and the complexity that comes with the flexibility they want to give advisers. Two recent product launches illustrate the point.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): On the horns of a CI dilemma.  Can simplification save protection? #goldencareagent
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Categories: Industry News and Long-Term Care.

“The Tax Benefits of Long-Term Care Insurance,” by Maryalene LaPonsie, U.S. News and World Reports

“Long-term care insurance premiums have been rising for many consumers, but financial experts agree that everyone, including the very wealthy, should consider buying coverage. ‘I consider it portfolio insurance,’ says Ken Moraif, a certified financial planner and host of the radio show ‘Money Matters.’ Since long-term care expenses can quickly wipe out a person’s investments, having insurance can protect assets for future use or heirs. Those who do buy a plan may be in line to receive tax benefits as well. ‘Purchasing long-term care insurance is one of the few ways the IRS lets you deduct the cost for future
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Categories: Industry News and Long-Term Care.

“Combine Long-Term Care with Life Insurance? Do the Numbers First,” by Paul Sullivan, New York Times

“The market for long-term care insurance, which covers the costs of some in-home health care, has had a rough month. One provider announced that it would not sell any more policies; another is headed toward insolvency, with billions of dollars in liabilities needing to be assumed by someone else.  Yet in the face of this bad news, consumers are being sold newly created long-term care products that are less expensive than the older products that guaranteed monthly payments — and that brought two insurers to a reckoning.  …  Both announcements play into the consumer fear that an insurer won’t be
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Categories: Industry News and Long-Term Care.

“Many high-need patients missing out on help with ADLs, report shows,” by Emily Mongan, McKnight’s LTC News

“The report found that 57% of high-need survey respondents have trouble with activities of daily living such as eating, bathing and dressing. Of that group, 62% reported that they either rarely or never have someone to help them complete their ADLs. Roughly 75% of high-need respondents who said they did receive help reported that it came from a family member.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): What is the comparative percentage of LTCI insureds who lack help with ADLs?  Low or non-existent I’d wager.  Insufficient or poor care is a function of inadequate financing
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Categories: Industry News and Long-Term Care.

“Pre-retirees are terrified about health care costs,” by The LifeHealthPRO Editors, LifeHealthPRO

“More than seven in 10 Americans nearing retirement say they are terrified of what health care costs may do to their retirement plans, according to the sixth annual Nationwide Retirement Institute survey conducted by Harris Poll. Nearly three in four older adults say one of their top fears in retirement is out-of-control costs for health care.  …  Among actions that non-retirees are doing now to save for health care costs in retirement: 41 percent are building their savings, 33 percent are paying off credit cards and debt, 28 percent are investing and 27 percent are increasing 401(k) contributions.” LTC Comment
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Categories: Industry News and Long-Term Care.

TrueView Underwriting: Because Nobody’s Perfect

Long-Term Care Insurance is important to you and your clients… whether they’re in perfect health or not. Do you have clients you assume would never qualify for long-term care insurance due to conditions like diabetes, prostate cancer or hepatitis B? Well, it’s time to take another look! TrueView’s improved underwriting processes address the real needs of real people. Check it out. TrueView Underwriting: Because Nobody’s Perfect #goldencareagent #Genworth
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Categories: Genworth and Long-Term Care.

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.