Washington Annual Premium Minimum As a reminder, there is a new annual premium minimum of $2,000 in effect for Washington state. To clarify what this means for different payment options, please see below for a breakdown of this minimum based on payment mode: $2,000 – Annual Premium $1,040 – Semi-Annual Premium $540 – Quarterly Premium $175 – Monthly Premium Please note, the minimum annual premium for a joint application is only $2,000 total, not $2,000 per applicant. These minimums are only applicable to Washington applications and are only in place through November 1, 2021. New Business NGL is processing the
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New pre-lapse notifications can help you save the sale
New pre-lapse notifications can help you save the sale Starting July 16, 2021, Great Western Insurance Company (GWIC®) will be rolling out new email notifications to writing agents and their immediate upline whenever clients have a Final Expense policy in danger of lapsing. You’ll receive emails five days into the customer’s grace period and have an opportunity to remind them to renew their contract(s). Retaining customers benefits us all. If you have questions, please call GWIC Agent Care at 866-252-5594, option 2, or by emailing m1agentsupport@americanenterprise.com. New pre-lapse notifications can help you save the sale #goldencareagent #gwic
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Long-Term Care Insurance Case Monitoring Update
From the Desk of Allen Gregoire Mutual of Omaha is pleased to announce the long-term care back-office data entry of applications has returned to normal processing times. Applications and all case status updates are now visible on Sales Professional Access (SPA), including application received date. Note: Due to the ongoing influx of business, telephone interview availability is limited. Currently, interviews are being schedule 2-3 weeks out from when requested by underwriting. We encourage you and your agents to check SPA to review your case status updates as our teams work diligently to process your LTCi cases as quickly as possible.
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COVID-19, Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
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LTC New Business Rate Refresh and Benefit Changes for Additional States
As a leading long-term care insurance carrier, Mutual of Omaha has a responsibility to our policyholders and distribution partners to ensure our pricing strategy and product offerings are in line with industry trends, internal claims data and the economic environment. Last year, Mutual of Omaha began implementing new rates and benefit option changes to the MutualCare Solutions Portfolio in approved states. Effective August 1, 2021, we will be implementing these changes in three additional states. Impacted States District of Columbia, Hawaii and New Jersey Rate Adjustments Premium adjustments may vary by age, sex and benefit selection. You may view the
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California Fair Claims Settlement Practices Regulation
California Fair Claims Settlement Practices Regulation The state of California requires that insurers communicate standards for the prompt handling of claims to all individuals that may be in contact with our customers and could receive notice of a claim. On an annual basis, the company’s Chief Compliance Officer must certify compliance with the California Fair Claims Settlement Practices regulations. Although you do not process claims, you play a very important role in supporting the Claims area to meet the standards set by California. This communication is intended to serve as a reminder of the California requirements, which state: Upon receiving
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Customize Your Own LTC Postcard
How will your clients pay for long-term care services? Mutual of Omaha has introduced a new customizable postcard to help agents start the LTC conversation. Send this customizable postcard to prospects to encourage them to talk with you about protection from the high cost of LTC services. View the Consumer Postcard > Order now through your normal ordering channels. Customize Your Own LTC Postcard #goldencareagent #mutualofomaha
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Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
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Thrivent LTC: Updated Competitive Comparison
A new producer-use comparison is now available showcasing Thrivent’s built-in features and optional riders compared to other industry leaders: Northwestern Mutual, NGL and Mutual of Omaha. Click below to see how Thrivent compares on: Benefit Amounts Benefit Periods Discounts Shared Care Inflation Options and more! Download Now #goldencareagent #thrivent #ltc
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SecureCare and the WA Cares Fund exemption
SecureCare likely qualifies for WA Cares Fund exemption The state of Washington created the WA Cares FundSM to address the future long-term care (LTC) crisis. The fund provides an LTC benefit for all eligible workers, which will be funded by a payroll tax that begins in January 2022. Benefits will be paid in $100 stackable units, with a lifetime maximum of $36,500 (adjusted for inflation). The benefit will be funded by a payroll tax that begins in January 2022. However, Washington residents who have a personal LTC insurance policy issued before November 1, 2021 can apply for an exemption from
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Age Update to Home Care Secure Product
Home Care Secure is now available for ages 35-84. This update is now available on Paper, the Agent Portal and on the e-App. Please update your e-App now to see this change. Log into the Agent Portal Home Care Secure, a new short term home health care insurance offering underwritten by GTL, was developed by Home Care Genie and is being offered exclusively as a membership benefit in the Aging at Home Association. The product is available for sales in 17 states including: AL, AZ, CO, GA, IA, IL, IN, KY, LA, MI, NE, NC, OH, OK, SC,
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Help Ensure the Continuation of the Family Business with IUL
Many small business owners would like for their children to continue the family business after their death. Help entrepreneurs imagine the fruits of their labor sustaining the next generation. Learn how Income Advantage IUL can be the tool to help with their estate equalization needs. Help Ensure the Continuation of the Family Business with IUL #goldencareagent #mutualofomaha #iul
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