The long-term care illustrations improvements you requested We heard you, and an updated and improved long-term care illustration will be available on Nov. 20. The updated illustration: Has a modern appearance. Was reorganized to provide a better flow of information. Focuses on what’s important to increase your client’s understanding of the product. Note for advisors licensed in California: The updated illustration will be available once your state approves it. Specific changes you’ll see Page order has been changed to bring the most relevant pages to the front. In general, the key terms and definitions will be printed at the end
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Washington state commissions and upcoming holiday schedule
Washington state commissions Last week’s Washington state update contained an incorrect date range for commission charge backs. Here is the notice with the updated range: As a reminder, there will be full charge back of commissions on any Washington state applications submitted from May 24, 2021 – November 10, 2021 where the premium is not paid for the second year of coverage. We apologize for any confusion this may have caused. Upcoming holiday office hours Please see below for NGL’s EssentialLTC administration’s upcoming holiday office hours. Thank you for partnering with NGL. We wish you and your family a
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Industry News, Long-Term Care, and National Guardian Life.
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Resuming Individual LTCi Sales in the State of Washington
We are pleased to announce that effective December 1, 2021, Mutual of Omaha will once again be accepting individual long-term care insurance applications from the state of Washington. Note: We expect to provide an update on resuming LTC Rider sales in first quarter 2022. Important information to know: The MutualCare® Solutions Portfolio will resume sales without any minimum requirements. e-Applications, illustrations and quoting software will be available beginning December 1, 2021. Mutual of Omaha LTCi policies needed to be placed prior to November 1, 2021, to be eligible for the WA Cares Fund tax exemption. Any new applications will not
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Inforce Long-Term Care Insurance Rate Adjustments Effective February 1, 2022
Mutual of Omaha actively monitors our inforce long-term care business, filing rate adjustments when necessary to ensure we keep our promises to policyholders and remain competitive in the marketplace. We will be implementing the following inforce rate adjustments effective February 1, 2022: Effective Date States Impacted Policy Forms Impacted Benefit Period Overall Rate Increase Per Year 2/1/2022 Arkansas LT50, NH50, HCA, NHA and LTA Non-Lifetime 25% 2/1/2022 Arkansas LT50, NH50, HCA, NHA and LTA Lifetime 25% Policyholder Notification Process Policyholders will receive a letter notifying them at least 60 days prior to the premium rate increase. The effective date
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New EFT Direct Deposit Requirements
Effective February 1, 2022, Mutual of Omaha will require an electronic deposit for all commission payments. Enrolling in EFT will get you paid in a more timely, secure, and convenient manner with no checks needing to be deposited. Once compensation totals more than $25, we will send an electronic payment directly to the bank that is in your profile on Sales Professional Access. Failure to enroll in EFT will result in your commissions being delayed and will be paid annually in January following the end of a calendar year. Please add or update your electronic deposit information by January 31,
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Critical Illness, Dental, Disability Income Insurance, Industry News, Life Insurance, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).
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Washington Update and LTC Awareness Month
Important Washington state update NGL is excited to announce that all sales restrictions in Washington state are eliminated effective immediately! We are able to lift the restrictions due to new business application submission levels returning to normal and our underwriters reaching a decision on 97% of Washington state applications as of November 1, 2021 on business that was submitted since June 1, 2021. As a reminder, there will be full charge back of commissions on any Washington state applications submitted from May 24, 2021 – November 10, 2021 where the premium is not paid into the second year of coverage.
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Teaming Up for LTCi Awareness Month
The Best Players Are Part of Great Teams At Mutual of Omaha, we know that greatness isn’t achieved alone. The best players are surrounded by great teams who help them win championships. That’s why by working together, we can offer these valuable long-term care insurance products to your clients. Halftime Huddle The additional tools below will help position you for a successful second half of long-term care insurance awareness month, and ensure you remain at the top of your game. Protection That Endures Consumer Video– This inspirational video can help you convey our enduring commitment to long-term care insurance and
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Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
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Thanksgiving Office Closing 2021
Mutual of Omaha and its affiliates (United of Omaha and United World) will be closed on Thursday, Nov. 25, and Friday, Nov. 26, 2021, for the Thanksgiving holiday. Thanksgiving Office Closing #goldencareagent #mutualofomaha #happythanksgiving
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Critical Illness, Dental, Disability Income Insurance, Industry News, Life Insurance, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).
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Additional LTCi benefit riders approved for Missouri Partnership
Missouri: Additional LTCi benefit riders approved for Partnership For financial advisors licensed in Missouri Since the launch of Thrivent’s long-term care insurance (LTCi) product, we’ve been working with many state regulators to pursue Partnership eligibility for our increase benefit riders. Missouri has approved Thrivent’s 1% and 2% Annual Increase Benefit (AIB) riders as Partnership qualified for ages 61 to 75, effective Aug. 18, 2021. Thrivent will apply Partnership status to all Missouri LTCi contracts that currently have the 1% and 2% AIB riders for ages 61 to 75. Any contract holders whose contracts were issued with the 1% or 2%
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TUESDAY! This is the Consumer Presentation that has sold MILLIONS in LTCi
Listen as our Expert goes through our field-proven Consumer Presentation. You’ll learn tips and strategies to make the most out of each and every meeting! Tues, Nov 23, 2021 2:00 PM to 2:45 PM CST Written for seminars or individuals, this proven presentation has helped thousands make a decision about LTCi coverage. Questions or help registering? 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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