In-Force Rate Action Announcement: Kentucky (Privileged Choice® and Classic Select®)

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. Kentucky has now allowed the following increases: Kentucky Non-AARP Product Series Increase Percentage Privileged Choice 35% Classic Select 35%   Kentucky Non-AARP Product Series Increase Percentage Privileged Choice 41.84% phased 20%, 18.2% cumulative Classic Select 41.84% phased 20%, 18.2% cumulative   This rate increase applies only to policies that include a simple or compound Benefit Increase Option (BIO). Communications Timeline Servicing agents will receive a list
Read More

Categories: Genworth, Industry News, and Long-Term Care.

Have You Tried the LTC Cost of Care Calculator?

Do your clients realize how expensive long-term care services can be? Based on national average costs, people can expect to pay more than $91,000 per year for a semiprivate room in a nursing home** – and that figure is expected to keep rising. Use our Cost-of-Care Calculator to Help Your Clients Understand the Need Mutual of Omaha’s Cost of Care calculator on our LTC Rider site provides national and state averages for a variety of long-term care services, including those received at home, in an assisted living facility and in a nursing home. It also provides estimates of what future
Read More

Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

Let’s Talk About Our Underwriting Guidelines

Our Next “Underwriting Operation” Teleconference is scheduled for 10 a.m. CST June 20th, 2019 Topic: Let’s Talk About Our Underwriting Guidelines We invite you to talk to our leadership to talk about the underwriting guidelines Mutual of Omaha is currently reviewing. Do you agree? Share your feedback and gather more insight on what you’d like to see change in the future. When: Thursday, June 20 at 10 am CT Conference Number: 1-866-220-3018 Conference ID: 5172044 Check out this flyer for all the details.   Do you have questions on the topic, or do you have something you’d like to discuss?
Read More

Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

NEW! Asset Care Training Resources

By Jan. 1, 2020, all issuers of life insurance are required to reprice their products according to the 2017 CSO mortality tables. OneAmerica® has updated the benefits and pricing within our whole-life based Asset Care® product suite, and we will be launching a new product in July. Read on to learn more about new resources to help you increase sales!   Training Resources Learn and earn: National webinars We’ll be hosting national webinars every Tuesday and Thursday in June and July. Producers from all distribution channels are encouraged to participate. Register for a FREE Asset Care webinar today » Asset-Care®
Read More

Categories: Industry News, Linked Benefit/Hybrids, and OneAmerica.

California Licensing Fees Increased, Effective March 3, 2019

As a reminder, per California Bulletin No. 2018-4, the California Department of Insurance (DOI) has increased its licensing fees by 10 percent for all insurance producers and insurers operating within the state of California, effective March 3, 2019. Attached is the new fee schedule for your convenience. If you have any questions, please contact the CA DOI Licensing Hotline at (800) 967-9331.   California Licensing Fees Increased, Effective March 3, 2019   #goldencareagent #genworth
Read More

Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Missouri (Pre-PCS)

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. Missouri has now allowed the following increases: Missouri Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods Pre-PCS 39% 99%   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 of policyholder notifications. Policyholder notifications will begin June
Read More

Categories: Genworth, Industry News, and Long-Term Care.

LifeSecure Insurance Company Names New President and CEO

LifeSecure Insurance Company Names New President and CEO BRIGHTON, Mich. — LifeSecure Insurance Company has announced the appointment of Patrick J. Prichard as president and CEO, effective June 1, 2019. The move follows the resumption of former LifeSecure president and CEO Kevin Stutler’s previous position of vice president of Enterprise Ancillary Business at Blue Cross Blue Shield of Michigan, the parent company of LifeSecure. LifeSecure has also named Debbie Marcum as Senior Director of Information Technology and Operations. Prichard joined LifeSecure as Chief Operating Officer in 2016, overseeing all administrative operations, information technology, and human resources. “Over the past couple
Read More

Categories: Industry News, Life Secure, and Long-Term Care.

LTC Underwriting Operation: The New Underwriting Guide

Another case study as part of our ongoing Underwriting Operation. Case Study: A New LTC Producer Uses Underwriting Tools to His Advantage Don is a new long-term care insurance agent based in St. Louis. As he learns the industry and product, Don has found it useful to carry the MutualCare® Solutions Underwriting Guide as an aid while screening clients. Recently, Don was working with a 65-year-old male applying for the Secure solution. Having already familiarized himself with the build chart before the meeting, Don knew to quote no better than Class 1 based on the client’s height and weight. However,
Read More

Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

Online Prequalification Now Available

In addition to calling, emailing, or faxing us your prequalifications, you can now prequalify a client by logging into the Agent Resource Center at ngl-essentialltc.com, clicking the “Underwriting Prequalification” icon, and submitting the online form. Once submitted, our underwriters will email you a response as soon as possible.   Learn more about underwriting in our recently recorded webinar: Field & Home Office Underwriting     If you have questions, please call NGL at (888) 505-2332 or email status@ngl-essentialLTC.com.   #goldencareagent #ngl
Read More

Categories: Industry News, Long-Term Care, and National Guardian Life.

EssentialLTC Partnership Policy Available In Illinois

Change effective May 31, 2019 National Guardian Life Insurance Company (NGL) is pleased to announce that effective May 31, 2019, the EssentialLTC policy will now be available as a partnership policy in the state of Illinois. Applications submitted in Illinois that are dated May 31, 2019 and after require the following additional application forms: Form Name Form # Action Acknowledgement Regarding Partnership Policy Qualification NLTCPRT-ACK Submitted with application   The new application forms will be available via the Agent Resource Center on May 31, 2019.   Determination of Partnership Eligibility EssentialLTC policies issued in Illinois will automatically be issued as
Read More

Categories: Industry News, Long-Term Care, and National Guardian Life.