The definition of what it means to be “middle market” is a moving target. It depends on where you live and which numbers are used at the top and the bottom of the scale. Generally speaking, middle market buyers fall into the $50k to $150k annual income per household category. They may not live paycheck to paycheck; however, may be reluctant to pay large annual premiums or lump sum payments. These middle market buyers need long-term care solutions that are affordable and manageable. Traditional LTCi is customizable to fit the needs of each individual based on their needs and financial
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Inforce LTCi Rate Adjustments Effective September 1, 2024
Mutual of Omaha actively monitors our inforce long-term care business, filing rate adjustments when necessary to ensure we keep our promises to policyholders and remain competitive in the marketplace. We will be implementing the following inforce rate adjustments effective September 1, 2024: Indiana Policy Forms Impacted 2024 Overall Rate Increase LTC04G 18.00% LTC04I 18.71% LTC04I7 16.22% LTC09M 10.06% LTC06UI 19.01% LTC09U 12.50% Oregon Policy Forms Impacted 2024 Overall Rate Increase 2025 Overall Rate Increase 2026 Overall Rate Increase LTC04G 36.69% 17.67% 23.09% LTC04I 36.16% 3.71% 23.22% LTC04I7 38.00% 16.75% 22.89% LTC09M 36.58% 6.29% 18.49% LTC06UI 20.47% 5.00% 20.95%
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Thrivent licensing reminder: States requiring pre-appointment or a fraternal license before selling
Licensing reminder—Plan ahead for states requiring preappointment or a fraternal license While Thrivent has just in time appointment for most states, there are three states where an agent must be appointed before taking an app. There are also four states that require an advisor to have a fraternal license to sell Thrivent products. Appointments: Thrivent currently requires pre-appointments in GA, PA and WI. Fraternal Licenses: Four states (CT, DE, MA and NM) require a Fraternal License prior to being appointed with Thrivent. Obtaining a fraternal license is relatively easy and requires only a nominal fee. Please allow for additional time
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Documenting A Written Strategy For Extended Care (New Resource)
Documenting a written strategy for extended care As you may know, long-term care insurance isn’t the plan—insurance might help pay for the plan. This new worksheet can help clients think through and document their long-term care wishes. It can help discuss where care would be received and who would provide the care. This worksheet should be completed no matter what the funding source. This is the family’s roadmap. We encourage couples to complete the worksheet individually and then compare notes. This tool can help you, the financial advisor, to customize a funding plan as the client documents their concerns, family
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Webinar 6/27: Thrivent Highlights, Taxation & Other Valuable Tips
Thrivent offers two powerful Extended Care planning solutions with their traditional LTCi and CareForward™ products. Join us with special guests from Thrivent, Joe Dunford & Anthony Vossenberg as they highlight niches and key market strengths of their traditional LTCi plan. They’ll share taxation tips putting CareForward at the top of your short list. And stay for a special new Sales Strategy being shared at the end! Thursday, June 27 10:00 AM Central Please check that you meet minimum system requirements and have the equipment needed to attend before downloading the latest version of GoToWebinar. Click Here for more information.
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There’s No One Size Fits All Insurance Solution
Clients today have several needs when looking for a Long-Term Care Insurance policy. Having a carrier with the flexibility to offer a variety of optional benefits is important. Did you know an inflation protection rider increases policy benefits over time? An advantage of adding inflation protection to a long-term care policy is it allows the benefits to grow each year so by the time your client needs care they will have more money available to help cover expenses. Take a deeper dive into how an inflation protection rider can benefit your clients. If you have any questions, please
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Condition-Related Marketing: Off-Label Medication Use
Medication approved by the US FDA (Federal Drug Administration) to treat a specific medical condition but prescribed by your doctor to treat a different condition, is off-label use. This practice is legal and common, and it does impact underwriting. While there are many drugs that are prescribed off-label, several are encountered frequently in LTC Underwriting. Check out the condition-related marketing flyer, Off-Label Medication Use in LTC Underwriting to learn some of the most common medications and their impact on underwriting. View the flyer here. If you have any questions, please contact Mutual of Omaha’s Sales Support at (800)
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Thrivent Upcoming holiday schedule
Upcoming holiday schedule Please note that Thrivent will be closed on the following days: Monday, May 27 – Memorial Day Wednesday, June 19 – Juneteenth Thursday, July 4 – Independence Day #goldencareagent #thrivent #ltc
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Inforce LTCi Rate Adjustments Effective August 1, 2024
Mutual of Omaha actively monitors our inforce long-term care business, filing rate adjustments when necessary to ensure we keep our promises to policyholders and remain competitive in the marketplace. We will be implementing the following inforce rate adjustments in the state of Louisiana, effective August 1, 2024. Impacted Forms 2024 Increase LTC041 25% LTC09M 20% LTC09U 25% Policyholder Notification Process Policyholders will receive a letter notifying them at least 60* days prior to the premium rate increase effective date as outlined above. Along with the premium rate increase notification letters, most policyholders will receive an adjustment offer if there
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Reminder: Illumifin Has Updated Their Email Address Domain
Reminder: Please note that Illumifin has changed its email address domain from ltcg.com to illumifin.com. All emails sent to illumifin employees using “@ltcg.com” will be forwarded to the illumifin.com domain until August 21st, 2024. On this date, the ltcg.com email domain will shut down permanently and emails will no longer be forwarded. The format of illumifin employee email addresses has also changed. There will no longer be a period in-between the first and last name within the email address. For example, any email that would originally be sent to firstname.lastname@ltcg.com should now be addressed to firstnamelastname@illumifin.com. Helpful Tip: A helpful
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