“It may be fitting that the group nestled between baby boomers and millennials is labeled “Generation X,” since its members are more of an unknown than the generations before and after. Their elders, the boomers, have virtually owned popular culture since the Beatles landed in the U.S. in 1964. Their kid brothers and sisters, the millennials, are applauded for their tech use, social consciousness and entrepreneurial gusto.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): It behooves LTCI producers to understand Generation X, born between 1961 and 1981, as they’re entering their peak-earnings and LTCI prospect
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“Assisted living is 16% of elder housing market: report,” by Lois A. Bowers, McKnight’s Senior Living
“Assisted living comes in second to skilled nursing in housing the elderly outside of traditional homes, according to the latest ‘SK&A U.S. Elder Care Market Summary.’ Skilled nursing centers represent 67% of the market, whereas assisted living has 16% of the market, according to the report. The SK&A report lists assisted living separately from personal care and board-and-care facilities, each of which it said represents approximately 1% of the market.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Very interesting data. Medicaid now spends more than half of its LTC expenditures on home and community-based care
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Rate Adjustments Effective August 1, 2017 – OH & SC
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 August 1, 2017: Block of Business Impacted States NHA, LTA, HCA, LT50, NH50 Ohio, South Carolina For a
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Omaha: How Your LTCi Policies Get Issued
Wednesday, May 24th 2:00 p.m. CT LTC Operations: How Policies Get Issued… a Behind-the-Scenes Look What happens after your client agrees to purchase a policy? Learn what items you should include with the app, what you can expect from the underwriting team and key milestones in the underwriting process. You can register for the webinar, add it to your calendar or both. On the day of the webinar, simply click the link from the confirmation email or calendar entry. There is no number to dial, just listen through your laptop or PC speakers or headphones. Add to calendar: Outlook |
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In-Force Rate Action Announcement: Washington (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 began to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. Subsequently, we received approval for, and implemented, a 12.8% premium increase in Washington. 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 2016, we began requesting the
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Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Maine (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 began to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. Subsequently, we received approval for, and implemented, a 12.8% premium increase in Maine. 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 2016, we began requesting the
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Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Arizona (Pre-PCS, PCS II, Choice 1)
In August 2012, we began seeking premium rate increases on certain blocks of comprehensive long term care insurance policies, including Pre-PCS, PCS 1, PCS II, and Choice 1. During the course of 2012-2014, we implemented rate increases on these blocks of business. In some states, the full requested increase was not received. Genworth began submitting requests in these states during the second half of 2014. Arizona has now allowed our requested increase, and the details of the implementation of this premium change can be found within the announcement. Servicing agents will receive a list of their impacted policyholders in these
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Genworth, Industry News, and Long-Term Care.
Break from the pack. Drive more sales
Your Business is About to Get a Whole Lot Healthier Transamerica has adopted a new brand that exists in this simple message: Wealth and health are inextricably linked. So, what does this mean for financial professionals like you? Build Your Value By Connecting Wealth + Health Offering holistic guidance that considers everything happening in a person’s life means offering a better value. Linking wealth and health allows you to have an ongoing discussion with clients while helping them understand how different aspects of their health can impact their long-term financial future. When people were asked what they want to have
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Form Required August 1, Model Replacement Form
Model Replacement Form Required Aug. 1, 2017 Effective August 1, 2017, NGL will be following the state-mandated Model Replacement rule for the state in which you are licensed. Your state’s Model Replacement rule required a form to be submitted with applications whenever a proposed insured states they have existing insurance coverage, even if they don’t plan on replacing that coverage. Two simple questions are asked on the form: Are you considering discontinuing making premium payments, surrendering, forfeiting, assigning to the insurer, or otherwise terminating your existing policy or contract? O YES / O NO Are you considering using funds from
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“What We Know for Sure About In-Retirement Withdrawal Rates,” by Christine Benz, Morningstar
“How retirees expect their lifestyles to evolve during retirement–along with whether they’ve purchased long-term care insurance–should play a role in their spending plans.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): People with LTCI can safely withdraw a little more from retirement savings than those without the protection. What We Know for Sure About In-Retirement Withdrawal Rates #goldencareagent
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