Earn An Elegant Getaway RITZ-CARLTON MONTREAL Quebec, Canada A Mutual of Omaha Incentive Trip for Long-Term Care (LTC) Producers It’s a new incentive travel opportunity just for LTCi producers. We’ll reward the top 10 LTCi producers of 2019 with a 4-day getaway to the Ritz-Carlton Montreal in June, 2020. Eligible business includes Mutual of Omaha’s traditional LTCi products – MutualCare® Secure Solution and MutualCare® Custom Solution. Make the most of these final weeks — the qualification period ends December 31, 2019! View the Incentive Trip Flyer #goldencareagent #mutualofomaha
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Oklahoma Now a Pre-Appointment State
Effective November 1, 2019, the state of Oklahoma updated their state regulations to move Oklahoma to a pre-appointment state. This means that if you are writing business in the state of Oklahoma you will be required to have an effective appointment prior to taking an application. All producers currently in the Mutual of Omaha system with a Just-In-Time Oklahoma appointment will be placed in an effective status as of 11/1/2019. All future triggered appointments will be placed in an effective status to meet this regulation change. If you have questions, please contact Mutual of Omaha’s Producer Services Team at
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LTC Partnership Approved in New Mexico
Great news! Partnership has been approved in NM on November 12, 2019. The Partnership Program is designed to allow those who have a qualifying policy to protect their assets from Medicaid spend-down requirements on a dollar-for-dollar basis, equal to the amount of any long-term care insurance benefits received. For a policy to be eligible for Partnership, it must: Be tax-qualified (MutualCare Solutions policies meet this requirement) Be purchased in a state where Partnership is approved Have inflation protection based on specific age brackets at time of purchase LTC13 applications signed in New Mexico on or after November 12, 2019 will
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Rate Adjustments Effective March 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 March 1, 2020: Block of Business Impacted States LT50, NH50, HCA, NHA and LTA Maine For a complete rate history, see the state approval grid on Sales Professional Access. Policyholder
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Rate Adjustments Effective February 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 February 1, 2020: Block of Business Impacted States HCA and HCAR Florida For a complete rate history, see the state approval grid on Sales Professional Access. Policyholder Notification Process Policyholders
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2020 Tax Deductible Limits For Long-Term Care Insurance Announced
The just announced increased 2020 tax deductible limits can be a significant benefit for those with tax-qualified long-term care insurance policies according to the American Association for Long-Term Care Insurance. “Tax deductibility for your long-term care insurance is a great subsidy especially after retirement, but only a small segment of newly purchased long-term care insurance policies offer the tax deductible opportunity,” explains Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI). The Internal Revenue Service just announced the increased limits for tax deductibility of long-term care insurance premiums. According to IRS Revenue Procedure 2019-44, a couple age
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Illinois Partnership Active Exchange
In October, customers with eligible policies meeting Illinois partnership requirements received notification letters informing them their LTC policy is partnership qualified. Customers with LTC13 policies not qualifying for the passive partnership exchange may choose to participate in an active exchange. An active exchange requires policyholder(s) to apply for a coverage change, modifying coverage to meet state inflation protection requirements. Both a new application and the “National Partnership Exchange Cover Letter” are required to be completed and submitted with the application to be treated as a coverage exchange. There will be full underwriting on the increased coverage. Letters notifying customers of
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EssentialLTC Product Updates – November 2019
A NEW WAY to Electronically Sign Applications Effective immediately, agents who have access to their own electronic signature program may use it to submit an EssentialLTC application via the Upload Documents function in the Agent Resource Center at www.ngl-essentialltc.com. Previously, electronic signatures were only accepted if an EssentialLTC application was submitted through the EssentialLTC E-APP process. Detailed Announcement See the detailed announcement for: Specific electronic signature requirements Examples of electronic signatures that will not be accepted Who to call with questions How to Learn More Contact NGL’s Sales Support Team at (888) 505-2332 or status@ngl-essentialLTC.com. #goldencareagent #ngl
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A Better Solution than Relying on Family
As people age, it’s natural to need a little help with life’s everyday activities. Most children will step in to lend a hand. But becoming a full-time caregiver for an aging parent is more difficult than many people think. TODAY’S REALITY Children typically have their own family and career obligations. Adding the role of caregiver to an already hectic day can take a toll – physically, financially and emotionally. It’s not unusual for caregivers to ignore their own health, often becoming ill themselves A child may have to take time off or quit a job altogether in order to care
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The Changing Landscape of Long-Term Care Planning
LTCi Remains Firmly Rooted as Viable Option When it comes to planning for LTC, consumers have more choices than ever before. But if they’re looking for the least expensive option, more comprehensive and generous benefits and other features like care coordination and inflation protection, then a traditional LTCi policy may be their best option. Traditional Policy Advantages: The least expensive way to fund long-term care services, providing strong value for the consumer Benefits are more comprehensive and generous than those provided by combined products Flexible policies provide coverage during the progression of care Provides known coverage amounts on day one
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