The Cost-of-Care Study Results Are In Every year, Mutual of Omaha conducts a cost-of-care study in all 50 states, and the results are in. The cost of services continues to rise and the average cost for a home health aide is over $70,000 a year. We’ve updated our cost-of-care tools to reflect the changes in price and to help you guide the conversation about how clients intend to pay for their long-term care. Resources for Long-Term Care Sales: Cost-of-Care Sales Ideas — Share the Cost-of-Care Overview and Home Health Care Sales Idea with agents to equip them for powerful conversations
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Important Notice: Illumifin Has Updated Their Email Address Domain
Please note that Illumifin has changed its email address domain from ltcg.com to illumifin.com. All emails sent to illumifin employees using “@ltcg.com” will be forwarded to the illumifin.com domain until August 21st, 2024. On this date, the ltcg.com email domain will shut down permanently and emails will no longer be forwarded. The format of illumifin employee email addresses has also changed. There will no longer be a period in-between the first and last name within the email address. For example, any email that would originally be sent to firstname.lastname@ltcg.com should now be addressed to firstnamelastname@illumifin.com. Helpful Tip: A helpful feature
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Cash and Reimbursement Benefits
Learn How Traditional LTCi Gives Clients the Flexibility to Choose No one knows what type of care they may need. So when selecting a long-term care insurance policy, it’s best to have options that give people the flexibility to meet any situation. Mutual of Omaha’s long-term care insurance policies contain a built-in cash benefit that allows your clients to choose how they prefer to receive policy benefits. Learn more about our cash and reimbursement benefits here. If you have any questions, please contact Mutual of Omaha’s Sales Support at (800) 693-6083 or e-mail sales.support@mutualofomaha.com. Cash and Reimbursement Benefits
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Care Coordination: A Built-In Benefit That Provides Real Value for Families
Arranging for long-term care services is no easy task. No matter when it happens, families often struggle to find appropriate care for their loved one. Mutual of Omaha’s LTCi policies contain a care coordination benefit that helps families manage their loved one’s long-term care needs. Check out the Care Coordination Sales Idea flyer to see how it works: Sales Idea: Care Coordination Remember, don’t overlook care coordination. Take the important step to educate your clients on how the policy works when they make a claim. Care Coordination: A Built-In Benefit That Provides Real Value for Families #goldencareagent #mutualofomaha
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Helpful Hint: Understanding the Limited Duration Inflation Options on Winflex Illustrations
Reminder: When using Winflex Web to quote our LTC products, please keep in mind as you review the illustration output that for any of our limited-duration inflation options, inflation is not applied until policy year 2. For example, if you choose a 20-year inflation protection duration, inflation would be applied every year during policy years 2-21 to hit the 20-year mark. It’s also important to note that Winflex’s illustration only shows in 5-year increments. Therefore the illustration would include year 25 as well to account for the inflation applied in policy year 21. If you have any questions regarding our
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Long-Term Care Insurance Policies Covers More Than Nursing Home Care
7.6 million individuals currently receive care at home because of acute illnesses, long-term health conditions, permanent disability, or terminal illness. And today, someone turning age 65 has almost 70% chance of needing some type of long-term care services and support in their remaining years. Read our Sales Idea to better understand how you can help clarify the misconception that an LTCi policy only covers care in facilities like nursing homes. And discuss the multiple care options that long-term care insurance offers clients as they age. If you have any questions, please contact Mutual of Omaha’s Sales Support at (800)
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Help Clients Plan for the Rising Costs of Long-Term Care Services
Historically, the cost of long-term care services has increased approximately 5% per year—a trend that isn’t expected to end anytime soon. Clients may be concerned that a policy today may not have adequate funding to address their increased costs in the future, that’s why we offer an Inflation Protection rider on the MutualCare® Custom Solution policy. This allows clients to tailor a plan of coverage to meet their current budget requirements while adjusting for the future increased expenses of LTC services. Read the concept flyer to learn more. Help Clients Plan for the Rising Costs of Long-Term Care Services
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Top Ten Long-Term Care Considerations
Learn more about the top ten long-term care health conditions and how Mutual of Omaha underwrites them with care and responsible underwriting. This quick guide will help you understand how we review these common health conditions. Download the Top Ten Long-Term Care Considerations guide now! If you need additional assistance, contact our LTC underwriting pre-screen team at ltcunderwriting@mutualofomaha.com or by phone at 800-551-2059. Top Ten Long-Term Care Considerations #goldencareagent #mutualofomaha
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Encourage Clients to Purchase LTCi Now, Not Later
Your clients have busy lives. Between family and work obligations, they have a lot going on. So even if they understand the value of long-term care insurance, purchasing a policy often isn’t a top priority. But they may not be aware there’s cost associated with waiting. It’s easy to put things off until tomorrow. But some of life’s decisions are too important to ignore. Waiting to purchase a long-term care insurance policy is one of them. Waiting may mean paying higher premiums down the road. Procrastinating also could lead to the inability to qualify for coverage. That makes this concept
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Inforce LTCi Rate Adjustments Effective June 1, 2024
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 June 1, 2024. Impacted Forms Impacted States LTC04I Vermont LTC0417 Vermont LTC09M Vermont LTC06UI Vermont LTC09U Vermont LT50, NH50, HCA, HCAQ, LTA, LTAQ, NHA and NHAQ South Carolina For details on yearly rate adjustment percentages, view the supplemental grid here. Policyholder Notification Process Policyholders will receive a letter notifying them at least 60* days prior to the premium rate
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