LTC Age Restrictions Now Lifted in All States Mutual of Omaha will begin accepting LTC applications for clients age 65 and over in California, Oregon and Washington effective immediately, August 24, 2020. Reminder: Underwriters will initiate scheduling the face-to-face assessments for LTC applicants age 65 and over after medical records have been received, reviewed and considered favorable for insurability. This new process ensures we are only requesting face-to-face assessments on individuals who are indeed insurable, subject to the completed assessment. Restrictions are now lifted for all 50 states. For a complete list of effective dates, please view the Frequently Asked
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LTC New Business Rate Refresh and Benefit Changes
As a leading long-term care insurance carrier, Mutual of Omaha has a responsibility to our policyholders and distribution partners to ensure our pricing strategy and product offerings are effective. We have been monitoring industry trends, internal claims data and the economic environment over the past several years. As a result, we are refreshing our rates and implementing benefit option changes to the MutualCare® Solutions Portfolio effective September 1, 2020. The details are outlined below: Impacted States Alabama, Alaska, Arkansas, Colorado, Georgia, Idaho, Illinois, Iowa, Kentucky, Louisiana, Maine, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New Mexico, North Carolina, Ohio,
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Transamerica Operations Disrupted by Storm
TRANSAMERICA OPERATIONS DISRUPTED BY STORM WE APPRECIATE YOUR PATIENCE On Monday afternoon, severe storms passed through central Iowa and affected our Cedar Rapids operations. Most importantly, we believe our employees are safe despite widespread damage in the area. Power and internet outages are widely reported, which will lead to a few days of uncertainty. In response, Transamerica and our administrative partner, TCS, have enacted our Business Continuity Plan. During this time, several phone lines will be temporarily closed or rerouted to other locations. Lines that remain open will have longer wait times as we try to balance customer support. These
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You Can Avoid LTCi Application Pitfalls
Did You Know? You can avoid these LTCi application pitfalls It’s a jungle out there. There’s a lot for you to remember, and LTCi is a complicated product. And you certainly don’t want to get through the sales process only to have the application declined, postponed, or withdrawn. Mutual of Omaha’s underwriting team offers these tips to help you avoid LTCi application pitfalls: If clients haven’t had a physical and lab work in the past 2 years, there’s no way to know if they’re healthy. Mutual of Omaha will not be able to insure someone who has not met this
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Help Clients Preserve Their Estate with the LTC Rider
Many people work a lifetime to accumulate assets to pave the way for a comfortable retirement and to leave an inheritance for their children. The last thing anyone wants is to see their hard-earned savings depleted to pay for long-term care services. Long-term care services, however, can quickly erode a client’s assets. The Help Preserve Your Client’s Estate sales idea discusses the need for long-term care services. It also includes a case study that examines the impact a life insurance policy with a long-term care rider can have on a client’s estate using two contrasting scenarios. For even more information
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Industry News, Life Insurance, Long-Term Care, and Mutual of Omaha (& Affiliates).
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Human API Pilot for LTC Applications
Important: This announcement only applies to marketers who do not order their own medical records. Mutual of Omaha is committed to offering you and your clients the tools and resources to make it easy to do business with us. Beginning August 10, 2020, Mutual of Omaha will launch a new pilot with Human API to obtain your clients’ electronic health records as part of our underwriting process. This pilot will include Fully Underwritten Life and Long-Term Care products where ordering of medical records is required. By partnering with Human API, we can provide your clients a simple and secure way
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NGL’s E-APP Is Now Available In California
E-APP now available in California The option to submit applications in California using the E-APP feature is now available, as of July 17. Watch this brief demo on how to easily submit a NGL EssentialLTC long term care application electronically with our E-APP or Upload Documents page. Benefits of using E-APP Safely conduct business from your home. Work with clients nationwide. Share your screen with clients. Efficient and faster application processing. Click here to login to the Agent Resource Center and submit new business. #goldencareagent #ngl
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Premium Not Required For LTC Applications
NEW: PREMIUM NOT REQUIRED FOR APPLICATION SUBMISSION WHEN SUBMITTING INDIVIDUAL LTC APPLICATIONS Effective immediately, Transamerica is pleased to share that cash is no longer required at time of application submission. You may now submit applications without initial premium when submitting individual business. Premium payment will become a delivery requirement. However, for clients that wish to bind coverage, the initial premium* must still be paid when the application is submitted. We hope that this option is of value to your business and your clients when appropriate. For questions or assistance with sales, illustrations, or other matters, please contact the Transamerica LTC
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Thrivent LTCi and Family History of Alzheimer’s
Clarification from Thrivent regarding Family History of Alzheimer’s Thrivent underwrites LTCi based on the applicant’s personal health history, with the exception of Early Onset Alzheimer’s Dementia (EOAD). Please refer to the following EOAD guidelines: EOAD Definition: Both parents diagnosed AD prior to age 65 or death from AD prior to age 70 or a parent plus one additional close relative such as a sibling, or aunt, uncle or grandparent on the side of the affected parent with early onset AD. At age equal to or less than 59 years old, whether or not this member showed any symptoms of cognitive
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Thrivent LTCi – New Underwriting Process Brochure
Revised version of Consumer Underwriting Brochure Through the end of the year, Thrivent will be revising their consumer marketing pieces to align with their re-branding initiative. The first piece to be revised is “Your Underwriting Process” (#34902). This piece will be replacing the old “What to Expect” brochure (#27881). Note: the underwriting requirements and process have not changed, so for the short term, either version of the brochure can be used while replacements are made across various platforms: FormsPipe on iPipeline: In the near future, this will be replaced in the client leave behind materials in the downloadable application packets.
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