Long-Term Care and Taxes Welcome to the Advanced Markets Minute in both print and audio form. Today’s article is called “Long-Term Care and Taxes.” Listen Now Whether he created the quote himself or borrowed it from dramatist Christopher Bullock, Benjamin Franklin’s famous statement about death and taxes certainly hits home as we approach April 15. Yet this is also a good time of the year to remember that we offer something that can help with those taxes. And it is also something most people will need. Long-term care insurance provides essential funds for care, but it also provides tax
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Updated Next Steps Flyer
Your client has applied for a LTCi insurance policy and you want them to be aware of what will happen next before they can be approved for coverage. Use this Next Steps Flyer to go over what to expect in the LTCi application process with your clients, including the ability to schedule telephone interviews via text message. If you have any questions, please contact Mutual of Omaha’s Sales Support at (800) 693-6083 or e-mail sales.support@mutualofomaha.com. Updated Next Steps Flyer #goldencareagent #mutualofomaha
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New Sales Idea: Help Clients Stay at Home
Some clients considering an LTCi policy believe the benefits would only cover services provided in care facilities. And since they don’t plan to go to a care facility, they may think they don’t need to purchase long-term care insurance. By walking through how LTCi provides in-home services, you can help clients feel more secure in their purchase of an LTCi policy … and, possibly help keep them in their home longer. Download the Sales Idea to learn more! If you have any questions, please contact Mutual of Omaha’s Sales Support at (800) 693-6083 or e-mail sales.support@mutualofomaha.com. New Sales
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Underwriting Update: Scheduling LTCi Telephone Interviews Via Text Message
Mutual of Omaha is pleased to announce that effective March 21, 2022, long-term care applicants will be able to conveniently schedule telephone interviews via text message. As long as a mobile number is provided on the initial application, the text message enhancement will occur concurrently with the standard email and telephone notification process. New Telephone Interview Scheduling Process First Contact: Email sent in conjunction with text message directing applicant to schedule online Second Contact: Reminder text message sent Third and Fourth Contact: Phone call made to applicant, with online scheduling information left in voicemail Fifth Contact: Reminder text message sent
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Updated Partnership Overview Guide
The LTC Partnership Overview Guide has been updated and is now available on SPA. Following is a summary of the changes that were made to the LTC Training Guide. The long-term care training requirements for all states were updated to reflect consistent requirement language throughout the guide. The following section was added for all states for ease of use and to allow users to quickly locate training requirements in the same place Initial Training Requirement Non-Resident Training Requirement Refresher Training Requirement Reciprocity Training Requirement Please discontinue use of the old version and download the new brochure now. If you
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Give Your Clients the Best of Both Worlds
It’s good to have choices. Mutual of Omaha’s long-term care policies allow insureds to choose how they prefer to receive policy benefits – either cash up front or traditional reimbursement. While other companies may offer cash, Mutual of Omaha’s cash benefit has no elimination period. That makes this concept well suited for: People who worry their policy may not pay for the type of care they need in the future People who like to make sure all their bases are covered People concerned about having to satisfy an elimination period before policy benefits begins Read the Sales Idea to learn
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Find Ways to Help LTC Claims Go Smoothly
Agents can be extremely helpful during during the claims process. Here are some recommendations for ways you can help the entire process go smoothly for your clients: Make sure you are familiar with the benefits of the policy so you can remind your clients and their families how it works and what services may be covered. This includes: A general understanding of all policy benefits A specific understanding of hospice care and respite care benefits since these are particularly stressful situations where agents typically get involved Become familiar with the claims intake process so you can help clients initiate a
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Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
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Cash and Reimbursement… The Best of Both Worlds
MutualCare® Solutions policies give your clients two options on receiving long-term care benefits – cash or reimbursement. Cash Benefit The cash benefit can be used for any services that supports the plan of care. Plus, there is no elimination period to meet before receiving the cash. Reimbursement Benefit After the elimination period is met, the reimbursement benefit allows your client to access covered long-term care services, reimbursed up to the selected amount each month. Best of all, your clients have the flexibility to switch between the cash or reimbursement benefit at any time. For more details on the MutualCare® Solutions
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