Important Dates: New LTC Compensation and Policy Dating Processes

We are making changes to how we process applications and issue your LTC policies. Here are some key dates to remember.

February 23, 2020

The following will apply to all applications signed on and after 2/23/2020:

Policies issued will be effective on the date of issue.
- Regardless of selection, date of application will no longer apply.
Initial premium will no longer be accepted with application.
- If a check is mailed along with the application, the check will be returned to the applicant.
- If a check is mailed separately to the lock box, the check will be cashed, and a refund check will be mailed to the applicant.
- In either scenario, a letter will be sent to the applicant indicating premium cannot be accepted until policy issue. A copy will be sent to the producer.
Temporary insurance agreements and conditional receipts will no longer be available .
EFT will now take place after the date of issue.

February 29, 2020

Paper Applications
- New versions of the paper application will be available mid-February. The version being replaced must be signed and received in the home office no later than February 29, 2020. If received in the Home Office after February 29, 2020, the application will not be accepted.
E-Applications
- If you have a pending e-application that was started prior to 2/23/2020, you can access your pending app, complete and submit like normal.  However, the pending e-Application must be signed and received in the Home Office no later than 2/29/2020 or it will not be accepted.

We will continue to share important information, including when the new paper applications will be available, in the coming weeks.

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