Long-term care processing times return to business as usual
Processing times for long-term care (LTC) new business applications have returned to business as usual.
What you need to know
- Starting in late May 2021, an unprecedented number of LTC applications were submitted in response to the Washington Cares Fund. This one-time event resulted in industry-wide service delays and long processing times for new business.
- We have been working diligently the past several months to process the large inventory of pending cases and are happy to share that the new business backlog has significantly reduced, returning processing times for new applications to “business as usual.”
- A small number of aged cases are waiting for additional requirements or information needed to make an underwriting decision or issue the contract.
- We have identified important learnings and implemented solutions to minimize the impact if an event like this happens again. We are also using this experience to identify ways to enhance the purchase experience for LTC.
Helpful tips
To help improve the experience and overall cycle times:
- Prescreen applicants. Understanding the applicant’s health helps you set expectations before you submit an application. Complete the LTCi Health Prescreen Request Form with your client and email to LTCiPreQual@thrivent.com.
- Complete the Declaration of Insurability at the time of application. Underwriting cannot begin until it is complete.
- Help set expectations for the underwriting process. Use the Your Underwriting Process brochure to help.
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