Updates and changes to our Asset Care® portfolio OneAmerica® is committed to the long-term care (LTC) market and to offering products that bring value to both the agents and clients we serve together. To help ensure the longevity of our Care Solutions product portfolio and confidently continue to keep our promises to you and your clients, we must continually monitor market conditions, practices, pricing and features and make adjustments as needed. Below is information on upcoming changes to be aware of: Changes on Asset Care Single Premium, Annuity Funding Whole Life and Asset-Care I in California We’ll be making
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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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NGL EssenitalLTC – Washington State Sales Announcement
Washington State Sales Announcement As stated in previous communications, the Washington Cares Fund has generated an influx of business that has reached levels beyond NGL’s processing capacity. In order to continue to accept business for other states, restrictions were put into place only allowing certain 10-Year and Single Payment applications to be submitted. Even with these restrictions, NGL has continued to see an increased volume of Washington State applications. Due to this, NGL has made the difficult decision to stop all sales of EssentialLTC in Washington State effective immediately. There is an exception for pre-approved multi-life executive carves outs with
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Return to pre-COVID guidelines: COI no longer required for every case
Return to pre-COVID guidelines: COI no longer required for every case Effective immediately, we will no longer require a Certificate of Insurability (COI) to be completed at policy delivery if premium is submitted with the application and the policy is issued standard or better. As long as the premium is submitted with the application, doesn’t have a substandard rating, and bound via a temporary insurance agreement (such as in Cash with App cases), no COI will be required. Additionally, we will no longer require a COI to be completed prior to initiating a request of funds or 1035 exchange. This
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It’s a $100,000 Question
The social media post available here is compliance-approved and ready to use on Facebook and LinkedIn as long as it is not changed or altered in any way. Keep in mind it must be used exactly as described. STEP 1 — Copy and paste the approved text below into your status: Could you afford to pay $100,000 a year* for nursing home care? Most people can’t. Use Mutual of Omaha’s calculator to see the cost of services in your state. https://www.mutualofomaha.com/long-term-care-insurance/broker-calculator *Based on the national average of $109,231.20 per year for a private room in a nursing home. Source: Mutual
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Mutual of Omaha Consumer Video
This short video tells a compelling story. Use it to get people thinking about the future and talking about their potential need for long-term care services. Show it in a face-to-face setting. Include it as a kick-off to an LTC seminar. Attach it to an email prior to meeting with a client. Use it to generate interest to people will want to meet with you. Be sure to show the correct version — the one that’s approved for use with consumers in your state. View the flyer. A Short Video Approved for Use With Consumers #goldencareagent #mutualofomaha
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NGL EssentialLTC – Underwriting Presentation
EssentialLTC Underwriting Presentation Get the most out of your field underwriting with the Tips on NGL’s EssentialLTC underwriting process presentation! This presentation will help you spot any major roadblocks while field underwriting so you can give your clients the best possible outcome when it comes time to submit their application. It offers a high-level overview of the best practices, key points to remember, questions to ask every client and what materials are a must when field underwriting. Click the image above or click here to access the presentation today! Please note, the presentation is best viewed with a Chrome browser.
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Thrivent LTC: Consumer presentation now available
Consumer presentation: 4 Truths about Long-Term Care This new workshop shows attendees how developing an extended care strategy may help them: Preserve independence Protect income and assets Reassure family about the future Audience Pre-Retired (51-64) Retired *65+) State-Specific Materials Presenters must be licensed in the states they are presenting in/to. Ensure that you are using only the appropriate materials for your state. Click the links below to download the appropriate state-approved materials. Appointed agents may also access these via www.tfltcstore.com. ICC States: Presentation Facilitator guide Newsletter copy Non-ICC States: Presentation Facilitator guide Newsletter copy Note: The consumer presentation is not
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Suspension of Asset Care Sales in Washington State, effective Aug. 14
Suspension of Asset Care Sales in Washington State, effective Aug. 14 We have been monitoring the sales and regulatory environment created by the WA Cares Fund. It’s important for OneAmerica® to regularly assess risk to protect our ability to deliver on promises made today and long into the future. Accordingly, we have decided to temporarily suspend sales of our Asset Care product in Washington state effective Aug. 14, 2021. New Business Submission Rules Beginning Aug. 14, 2021, Asset Care applications in Washington will no longer be accepted. All eApp or paper applications must be received in the Home Office
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NGL EssentialLTC – Important Washington State Announcement
Important Washington State Announcement The Washington Cares Fund has created widespread interest in private-pay LTC as a planning option. Since NGL is committed to the LTC marketplace, we took actions so we could continue to accept Washington State business. The influx of Washington State business we have received has continued to grow and has reached a point that is beyond our processing capacity. In the last three days, from Washington alone, we have received the equivalent of three months’ worth of submissions from the entire U.S. UPDATES Effective today, August 9, 2021, at 6 p.m. EST (3 p.m. PST), we
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