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. Washington has now allowed the following increases: Washington Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods Pre-PCS 27.2% 27.2% PCS I 30% 30% PCS II 30% 30% This rate increase applies to NON-AARP, non-partnership policies only Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the start
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Video Interview with Chief LTC Underwriter Carol Carville
Go behind the scenes with Carol Carville. We hope the video interview with Demerri Bond was helpful and insightful. We’re excited to bring you the next in the series, a candid interview with underwriter Carol Carville. Carol has worked in group medical, life, disability and now long-term care, so her perspective is unique and varied. In the video, she talks about common application mistakes and why the relationships she has with producers in the field is so important to her and our business. Don’t miss it! Video Interview with Chief LTC Underwriter Carol Carville #goldencareagent #mutualofomaha
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Updated E-App Quick Start Guide and FAQs
The long-term care E-App Quick Start Guide and E-App FAQs have been updated with more helpful information. Download the materials below: LTC E-App FAQ LTC E-App Quick Start Guide These materials are also available to order through normal ordering channels. If you have questions, please contact your Account Executive or Sales Director. Updated E-App Quick Start Guide and FAQs #goldencareagent #mutualofomaha
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EssentialLTC E-APP Enhancements
E-APP Enhancements Effective 8/29, the following enhancements were made to the EssentialLTC E-APP: Additional clarity on where to enter the Primary Care Physician’s name and phone number The premium mode selection will only have to be made one time and will carry through to other sections of the E-APP You can now access PDF copies of submitted E-APPS in the Agent Resource Center in YOUR E-APP SUMMARY REPORTS in addition to accessing a PDF copy in the email sent once all required signatures are received More changes to continue to improve our E-APP experience are coming soon! Uploaded Paper Applications
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LTC Post-Issue Requirements: Outstanding Premium
Over the past few weeks you’ve learned the basics about long-term care post issue requirements (PIRs), including an overview of the types, as well as different amendment scenarios. Today we will discuss outstanding premium. If there is any outstanding premium due, below are things to note to meet the post-issue requirements as quickly as possible. Post-Issue Benefit Changes If a benefit change is made post-issue, the original premium is still due by day 60 from issue. The new Premium Statement sent in the new policy kit will list the date the premium is due as “Upon Receipt.” Completed Checks When
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The LTC Rider is Now Approved in the District of Columbia
On September 1, agents selling in the District of Columbia will now have an additional option to help meet clients’ long-term care planning needs. The new Long-Term Care Rider will be available for you on our Income Advantage and Life Protection Advantage Indexed Universal Life (IUL) insurance policies. The LTC Rider provides: Benefits for Nursing Home, Assisted Living, Home Health Care and Adult Day Care Maximum total benefits up to 100% of the initial specified death benefit 1%, 2% or 4% monthly acceleration percentages One-time, 90 calendar-day elimination period Automatic issue of the Chronic Illness Rider if the client doesn’t
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LTC Post-Issue Requirements: Amendment Scenarios
Last week you read the overview of the three types of post issue requirements for LTC policies: amendments, outstanding premiums and Policy Delivery Acknowledgments. Amendments must be returned to Mutual of Omaha within 60 days of your client’s policy being issued. Changes made within the first sixty days from issue will also require a returned amendment. The Benefit Change form found in the issue kit may be used to request a benefit change but is not required, nor is it a replacement for an amendment. Amendments are required for a variety of situations, including: Missing Application Requirements When an application
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LTC13, Critical Advantage, TLA and Living Promise E-App Unavailable September 1st
On Sunday, September 1st, the Paperless Solutions Group e-app environment will be temporarily unavailable as we perform routine maintenance. This will affect LTC13, Critical Advantage, TLA and Living Promise product lines. The planned outage will last 5:00 a.m. (CST) Sunday through 5:00 p.m. (CST). For consideration of additional time zones, the outage window will be: Eastern — 6:00 a.m. through 6:00 p.m. Mountain — 4:00 a.m. through 4:00 p.m. West Coast — 3:00 a.m. through 3:00 p.m. We encourage you to take this outage window into consideration when arranging any appointments on Sunday, September 1st. We apologize for any inconvenience
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Rate Adjustments Effective December 2019
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. In order to fulfill this commitment, we actively monitor emerging industry trends as well as our own experience so we can make the adjustments necessary that will allow 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 December 1, 2019: Block of Business Impacted States LTC04G Rhode Island For a complete rate history, see the state
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Rate Adjustments Effective November 2019
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. In order to fulfill this commitment, we actively monitor emerging industry trends as well as our own experience so we can make the adjustments necessary that will allow 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 November 1, 2019: Block of Business Impacted States LTC04I, LTC06U Connecticut LT50, LTA, LTAR, NHA and NHAR, Ltc04I, LTC04G, LTC06U
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