If you have clients who don’t want to end up paying premiums for something they may never use, there’s a feature of the policy that can help ease their concerns. Mutual of Omaha Offers Three Return of Premium Options: Add an optional Return of Premium rider to a long-term care policy. Here’s how it works: If the insured dies while the policy is in force, premiums paid minus any policy benefits received by the insured are refunded to the insured’s beneficiary. ROP Benefit ROP Three Times the Maximum Monthly Benefit Less Claims Paid ROP if Death Occurs Before Age 65
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Mass Mutual To Exit Traditional Long Term Care Insurance Market
The traditional long term care insurance arena which once flourished with over 100 underwriters 20 years ago is now down to 9 companies. Mass Mutual has made the decision to stop offering for sale all traditional long term care insurance policies effective January 28th, 2021. Mass Mutual has made the decision to leave the traditional LTC arena due to low traction with sales on its Signature Care 600 policy series released in 2019. This is not surprising news as I thoroughly discussed the non-competitive pricing of the Mass Mutual Signature Care 600 LTC insurance policy series when it was priced
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EssentialLTC E-Application Coming Soon In Florida
E-Application to be available in Florida Effective January 22 We are pleased to announce the availability of E-APP for EssentialLTC Florida applicants effective January 22, 2021. The E-APP process allows the agent to submit EssentialLTC applications electronically after logging into the Agent Resource Center, as well as to obtain both applicant and agent signatures electronically. With this implementation, the E-APP process can now be utilized in all states where EssentialLTC is available. Please see the EssentialLTC State Variation for additional information relating to State Variations, noting that this will be revised on January 22, 2022 to reflect this change. E-APP
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Updated LTCi 2021 Tax Advantages Flyers
There are a lot of advantages to owning a traditional long-term care policy. It helps people remain in their homes as long as possible, ensures parents won’t have to rely on their kids to take care of them, and provides protection for a retirement nest egg. But there’s another important advantage…the potential to save on federal and state income taxes. The LTCi tax advantages flyers are now updated with the 2021 eligible deduction amounts. Download the flyers now: Agent Tax Guide Tax Advantages for Individuals Tax Advantages for Business Owners Updated LTCi 2021 Tax Advantages Flyers #goldencareagent #mutualofomaha
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Errors and Omissions Insurance Reminders
Mutual of Omaha and its affiliates (United of Omaha and United World) require Errors and Omissions Insurance in the amount of $1 million (per claim) prior to selling the following insurance products: • AccumUL Answers • Term Life Answers • Income Advantage IUL • Life Protection Advantage IUL • Bonus Flexible Annuity • Ultra Secure Plus • Income Access • Ultra-Income product • Critical Illness (aka Critical Advantage) • Disability • Long-Term Care • Prescription Drug Plans As a GoldenCare producer, you have the ability to get this valuable coverage at a discount! Check out our Errors and Omissions and
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Thrivent LTC: Enhancements to e-App
Thrivent e-App Enhancements Thrivent has updated their e-App to reflect changes to the Illustration software, revisions to forms, and to simplify data input. These updates include: Agent ID is now required to submit an e-App: An application can no longer proceed without a Thrivent producer code. Personal Worksheet: Premium amount from the illustration auto input to the Personal Worksheet (Form 27156). Updated HIPAA form Couples Discount: Simplified interface (removal of dropdown) + Shared Care Rider now changes when updated in illustration Membership Application: The “Church Name” field is optional New Thrivent brand featured on Printed Output / PDF of applications
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New All-in-One Overview of Member Benefits
New All-in-One piece discusses benefits to membership As a membership-owned organization, Thrivent answers to our clients — never to shareholders on Wall Street. By operating this way, we build relationships based on transparency and trust. We’re a client-first community with shared values that offers financial guidance that reflects your unique goals. See how Thrivent differs from other insurers with this overview of Thrivent’s member benefits. Who we are How we’re different What we offer Workshops and Events Partnering Highlights of strength The benefits of membership Thrivent Action Teams Thrivent Choice This piece is currently DOWNLOAD ONLY and can be found
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New Sales and Marketing Process Brochure
Six Steps to LTCi Sales Boost your LTCi sales by furthering your product and sales process knowledge! Our new Sales and Marketing Process brochure breaks the sales process down into 6 thoughtful steps, helping you organize your approach to sales. This handy brochure also suggests other educational material for each step in the process, so it’s an invaluable resource for learning all things LTCi. Check out the steps and how they can help you jump start sales by downloading the brochure. New Sales and Marketing Process Brochure #goldencareagent #mutualofomaha #longtermcare
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2021 Partnership Minimum Benefit Requirements for CA, CT, IN and NY
Each year, the original Partnership states (CA, CT, IN and NY) revisit certain minimum benefit requirements to qualify for their Partnership programs. The requirements that are changing for 2021, as well as some (but not all) minimum Partnership requirements that not changing, are listed below. California Partnership The following minimum benefit requirements for Partnership in California are not changing for 2021. Requirements 2020 2021 Minimum Daily Benefit $230 $230 Minimum Monthly Benefit $7,130 $7,130 Connecticut Partnership The minimum monthly benefit required in 2021 for Connecticut Partnership plans will be $9,095. Because this amount is higher than the current maximum
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Happy New Year from our GoldenCare Family
As 2020 comes to an end, we would like to say “THANK YOU!” to all of our agents, clients and colleagues for a successful year! We appreciate your business, teamwork and loyalty and look forward to serving you in 2021! To better serve you this week, please review our New Year’s Schedule (below) and submit your business to GoldenCare by 4:30 PM Central on Wednesday, December 30th, to allow time to process. GoldenCare Office Closures For New Years: • Thursday, December 30th — CLOSED • Friday, January 31st, 2021 — CLOSED #goldencareagent #family #happyholidays
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