Painting a picture is the best way to ensure your cases are issued quicker When underwriting your LTCi cases, Mutual of Omaha looks at the total picture, including your client’s health, cognitive status and lifestyle. So, the better job you do painting a picture of your client’s situation, the faster the underwriting process will go. Mutual of Omaha knows your LTCi clients are more than a list of diagnoses. Even people with chronic health conditions can be viewed favorably as long as they’re physically and socially active and working with a physician to manage their health. But underwriting has to
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Transamerica Discontinues Selling LTC
TRANSAMERICA TO DISCONTINUE STANDALONE LONG TERM CARE As announced December 10, 2020, on Capital Markets Day by Aegon CEO Lard Friese, Transamerica will discontinue sales of our individual, standalone Long Term Care (LTC) business on March 31, 2021. In addition, acceptance of applications under approved multi-life cases (worksite and association) will end on June 30, 2021. LTC riders on life insurance policies are not affected. The only impacted products are TransCare® II and TransCare® III. It’s important that you know your clients with existing policies are not impacted. Their customer experience will stay the same, and they will not experience
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National Guardian Life Acquires Everplans
NGL acquires Everplans, laying a foundation for expansion to become a digital leader in the insurance and employee benefit landscape We are pleased to announce the acquisition of Everplans, a New York City-based digital life-planning and organization company. Everplans will remain a separate entity and operate as a wholly owned subsidiary of NGL. Together these companies will be able to provide families across the country with easy, affordable and accessible ways to prepare for the unexpected, and be able to securely track and manage vital information throughout their lives, and during challenging times. “We have been helping people face life’s
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LAUNCH your 2021 Thrivent LTCi Sales!
Thrivent LTCi incentive through 3/31/21 GoldenCare is now offering a producer incentive for business submitted in the first quarter and in-force by 5/31/2021. For Thrivent long term care insurance applications submitted between 1/1/2021 and 3/31/2021 and in-force by 5/31/2021 RULES: For each Thrivent LTCI application submitted during this incentive, you will earn an extra $150 per life (if policy in-force and paid by 5/31/21). There is no cap to this incentive. Incentive will be paid in June 2021, as an additional compensation and 1099 income. This is not a carrier-sponsored incentive. It is promoted independently by GoldenCare. Questions? Contact GoldenCare
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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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LTC Sales Idea: Return of Premium
If you have clients who don’t want to end up paying premiums for something they may never use, there’s a feature of the policy that can help ease their concerns. Mutual of Omaha Offers Three Return of Premium Options: Add an optional Return of Premium rider to a long-term care policy. Here’s how it works: If the insured dies while the policy is in force, premiums paid minus any policy benefits received by the insured are refunded to the insured’s beneficiary. ROP Benefit ROP Three Times the Maximum Monthly Benefit Less Claims Paid ROP if Death Occurs Before Age 65
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Mass Mutual To Exit Traditional Long Term Care Insurance Market
The traditional long term care insurance arena which once flourished with over 100 underwriters 20 years ago is now down to 9 companies. Mass Mutual has made the decision to stop offering for sale all traditional long term care insurance policies effective January 28th, 2021. Mass Mutual has made the decision to leave the traditional LTC arena due to low traction with sales on its Signature Care 600 policy series released in 2019. This is not surprising news as I thoroughly discussed the non-competitive pricing of the Mass Mutual Signature Care 600 LTC insurance policy series when it was priced
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Attention Arizona and Iowa producers: Best Interest is coming!
Arizona and Iowa have updated the requirements around Best Interest and suitability in annuity transactions. New training will be required to be able to submit applications for any annuity products, including Asset Care annuity funding whole life. The changes will go into effect Dec. 31, 2020, in Arizona and Jan. 1, 2021, in Iowa. Updated training course required by each state Producers who have previously taken the four-hour state generic annuity suitability course can now have the option of taking either the one-hour catch-up training course on annuity best interest, or they can take the newly created four-hour course
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EssentialLTC E-Application Coming Soon In Florida
E-Application to be available in Florida Effective January 22 We are pleased to announce the availability of E-APP for EssentialLTC Florida applicants effective January 22, 2021. The E-APP process allows the agent to submit EssentialLTC applications electronically after logging into the Agent Resource Center, as well as to obtain both applicant and agent signatures electronically. With this implementation, the E-APP process can now be utilized in all states where EssentialLTC is available. Please see the EssentialLTC State Variation for additional information relating to State Variations, noting that this will be revised on January 22, 2022 to reflect this change. E-APP
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Updated LTCi 2021 Tax Advantages Flyers
There are a lot of advantages to owning a traditional long-term care policy. It helps people remain in their homes as long as possible, ensures parents won’t have to rely on their kids to take care of them, and provides protection for a retirement nest egg. But there’s another important advantage…the potential to save on federal and state income taxes. The LTCi tax advantages flyers are now updated with the 2021 eligible deduction amounts. Download the flyers now: Agent Tax Guide Tax Advantages for Individuals Tax Advantages for Business Owners Updated LTCi 2021 Tax Advantages Flyers #goldencareagent #mutualofomaha
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