Paper Applications ORDER TODAY! New paper applications are available for order. These applications reflect the no cash with application and conditional coverage changes effective 2/23/2020. The version being replaced must be signed and received in the Home Office no later than 2/29/2020. If received in the Home Office after 2/29/2020, the application will not be accepted. E-Applications Reminder: 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. The pending e-Application must be signed and received in the Home Office no later than 2/29/2020 or it will not
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In-Force Rate Action Announcement: Vermont (Pre-PCS, PCS I, PCS II, Choice 1)
> PCS II with Stable Premium Option > Choice 1 with Stable Premium Option As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. Vermont has now allowed the following increases: Vermont Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods Pre-PCS 69.78% phased 30.3%, 30.3% cumulative 69.78% phased 30.3%, 30.3% cumulative PCS I 125.5% phased 31.2%, 31.2%, 31% cumulative 125.5% phased 31.2%, 31.2%, 31% cumulative PCS II 136.68%
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In-Force Rate Action Announcement: New Mexico (Pre-PCS, PCS I, PCS II, Choice 1)
As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. New Mexico has now allowed the following increases: New Mexico Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods Pre-PCS 15% 15% PCS I 15% 15% PCS II 15% 15% Choice 1 15% 15% Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the start of policyholder notifications.
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In-Force Rate Action Announcement: Ohio (Pre-PCS, PCS I, PCS II)
As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. Ohio has now allowed the following increases: Ohio Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods Pre-PCS 15% 15% PCS I 15% 15% PCS II 15% 15% Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the start of policyholder notifications. Policyholder notifications will begin February 4,
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In-Force Rate Action Announcement: Massachusetts (PCS I, PCS II, Choice 1)
As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. Massachusetts has now allowed the following increases: Massachusetts Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods PCS I 40% phased 13.3%, 13.3%, 13.4% simple 40% phased 13.3%, 13.3%, 13.4% simple PCS II 40% phased 13.3%, 13.3%, 13.4% simple 40% phased 13.3%, 13.3%, 13.4% simple Choice 1 40% phased 13.3%, 13.3%, 13.4% simple 40% phased 13.3%, 13.3%, 13.4% simple
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Thrivent Named One of the 2020 World’s Most Ethical Companies
THRIVENT NAMED ONE OF THE 2020 WORLD’S MOST ETHICAL COMPANIES BY ETHISPHERE February 25, 2020 | Samantha Mehrotra, Public Relations Manager Recognition honors those companies that take the long view with a purpose-based strategy and strive to create positive change throughout their global communities. Minneapolis — Thrivent, a diversified financial services organization, has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2020 World’s Most Ethical Companies. Thrivent has been recognized nine years in a row and is one of only five honorees in the financial services industry.
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Sales Professional Access Case Monitoring Enhancement
Mutual of Omaha is continually evaluating opportunities to improve our business processes and tools to help you get your applications issued quicker. We are excited to announce a new case monitoring enhancement. Effective February 16, 2020, the case monitoring dashboard on Sales Professional Access has been updated to display more accurate and detailed requirements. Examples of the new Requirement Headings are illustrated below (click to enlarge): As always, if you have any questions regarding your case status or any outstanding requirements, please reach out to Case Management at 800-275-5528. Sales Professional Access Case Monitoring Enhancement #goldencareagent #mutualofomaha
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LTC Commission Timing and No Cash with Application Update
Beginning February 23, compensation will be paid at the time the first premium payment is received, all Post Issue Requirements (PIRs) are complete and the case is considered placed. Applications signed on or after this date will be effective on the date the policy is issued. Date of application will no longer be a coverage effective date option. As we implement these changes, there are important dates and details to remember: February 23, 2020 Policies issued will be effective on the date of issue. Replacement cases will still have the option to elect a date after policy issue. Initial premium
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Legacy Rate Adjustments Effective May 1, 2020
Long-Term Care insurance (LTCi) is a core product for Mutual of Omaha, and we intend to remain a key player in this market for years to come. To fulfill this commitment, we actively monitor emerging industry trends and make any adjustments necessary that enable us to keep our promises to policyholders and remain competitive in the marketplace. For this reason, we will be implementing the following rate adjustments effective May 1, 2020: Block of Business Impacted States LT50, NH50, HCA, NHA & LTA Hawaii For a complete rate history, see the state approval grid on Sales Professional Access. Policyholder
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2020 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 2020, 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 changing for 2020. Requirements 2019 2020 Minimum Daily Benefit $220 $230 Minimum Monthly Benefit $6,820 $7,130 Connecticut Partnership The following minimum benefit requirements for Partnership in Connecticut are changing for 2020. Requirements 2019 2020 Minimum Daily Benefit $283 $291 Minimum Monthly Benefit
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Genworth, Industry News, and Long-Term Care.
Genworth, insurance, Long-Term Care, long-term care insurance, LTC, and LTCi.
Genworth, insurance, Long-Term Care, long-term care insurance, LTC, and LTCi.
