Asset Care® Update from OneAmerica

September 3, 2019 | by | Comments Off on Asset Care® Update from OneAmerica

Bringing Value to More States We’re pleased to announce that our updated Asset Care® product will be available starting Sept. 23, in Arizona, Connecticut, Delaware, Hawaii, New Jersey, North Dakota and South Dakota as we continue to launch the product across the country. Our updated Asset Care product provides several unique benefits, including: Optional joint coverage and lifetime benefits. Single Premium Drop-In Rider (SPDR) on the Recurring Premium Whole Life funding option. A new 5-pay option on the recurring premium whole life funding option — your clients will now be able to choose a 5-, 10- or 20-year pay option
Read More

Categories: Industry News, Linked Benefit/Hybrids, and OneAmerica.
Tags: Asset Care, hybrid, linked benefit, LTC, oneamerica, State Life, and training.

REMINDER: Genworth’s 2019 Commission Pay Schedule

September 3, 2019 | by | Comments Off on REMINDER: Genworth’s 2019 Commission Pay Schedule

Genworth is changing the timing of the end of year paydown. October 4, 2019 will be the payout for commission payments that have not previously met the minimum payment requirement. Genworth will process all commissions due on October 4, 2019. The $50 minimum payment requirement will resume after October 4, 2019 and will continue through the next commission pay down in 2020. Therefore, there will not be an “end of year” pay down as in previous years. All commission payments, for all products, will be distributed on October 7, 2019. Genworth will resume normal commission payments that have met the
Read More

Categories: Genworth, Industry News, and Long-Term Care.
Tags: commission, Genworth, Genworth Life Insurance Company, insurance, Long-Term Care, LTC, and LTCi.

LTC Post-Issue Requirements: Amendment Scenarios

September 3, 2019 | by | Comments Off on LTC Post-Issue Requirements: Amendment Scenarios

Last week you read the overview of the three types of post issue requirements for LTC policies: amendments, outstanding premiums and Policy Delivery Acknowledgments. Amendments must be returned to Mutual of Omaha within 60 days of your client’s policy being issued. Changes made within the first sixty days from issue will also require a returned amendment. The Benefit Change form found in the issue kit may be used to request a benefit change but is not required, nor is it a replacement for an amendment. Amendments are required for a variety of situations, including: Missing Application Requirements When an application
Read More

Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
Tags: insurance, Long-Term Care, long-term care insurance, LTC, LTCi, mutual of omaha, omaha, PIR, post-issue requirements, and Underwriting'.

Rate Adjustments Effective December 2019

August 26, 2019 | by | Comments Off on Rate Adjustments Effective December 2019

Long-Term Care insurance (LTCi) is a core product for Mutual of Omaha and we intend to remain a key player in this market for years to come. In order to fulfill this commitment, we actively monitor emerging industry trends as well as our own experience so we can make the adjustments necessary that will allow us to keep our promises to policyholders and remain competitive in the marketplace. For this reason, we will be implementing the following rate adjustments effective December 1, 2019: Block of Business Impacted States LTC04G Rhode Island   For a complete rate history, see the state
Read More

Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
Tags: insurance, Long-Term Care, long-term care insurance, LTC, LTCi, mutual of omaha, omaha, and United of Omaha.

Rate Adjustments Effective November 2019

August 22, 2019 | by | Comments Off on Rate Adjustments Effective November 2019

Long-Term Care insurance (LTCi) is a core product for Mutual of Omaha and we intend to remain a key player in this market for years to come. In order to fulfill this commitment, we actively monitor emerging industry trends as well as our own experience so we can make the adjustments necessary that will allow us to keep our promises to policyholders and remain competitive in the marketplace. For this reason, we will be implementing the following rate adjustments effective November 1, 2019: Block of Business Impacted States LTC04I, LTC06U Connecticut LT50, LTA, LTAR, NHA and NHAR, Ltc04I, LTC04G, LTC06U
Read More

Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
Tags: insurance, Long-Term Care, long-term care insurance, LTC, LTCi, mutual of omaha, omana, and United of Omaha.

Rate Adjustments Effective October 2019

August 22, 2019 | by | Comments Off on Rate Adjustments Effective October 2019

Long-Term Care insurance (LTCi) is a core product for Mutual of Omaha and we intend to remain a key player in this market for years to come. In order to fulfill this commitment, we actively monitor emerging industry trends as well as our own experience so we can make the adjustments necessary that will allow us to keep our promises to policyholders and remain competitive in the marketplace. For this reason, we will be implementing the following rate adjustments effective October 1, 2019: Block of Business Impacted States LTC04I, LTC04G Colorado   For a complete rate history, see the state
Read More

Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
Tags: insurance, Long-Term Care, long-term care insurance, LTC, LTCi, mutual of omaha, omaha, and United of Omaha.

Securian LTC/CI Planning Brochure

August 19, 2019 | by | Comments Off on Securian LTC/CI Planning Brochure

Long-term care and chronic illness strategies for every life stage Long-term care (LTC) and chronic illness (CI) coverage is a conversation many advisors reserve for older clients, but talking about LTC/CI earlier could be a game-changing opportunity for you both. So how do you begin the conversation? And how do you know what potential solutions to suggest for each life stage? Use this brochure to understand how our LTC/CI portfolio can help clients adapt to meet their evolving needs, and take one step closer to helping create customized solutions for every stage of your clients’ lives. Get the brochure  
Read More

Categories: Industry News, Life Insurance, and Securian.
Tags: CI, critical illness, insurance, Life Insurance, Long-Term Care, long-term care insurance, LTC, LTCi, Minnesota Life, Securian, Securian Financial, and security.

Endorsement added to Massachusetts Policies

August 19, 2019 | by | Comments Off on Endorsement added to Massachusetts Policies

EssentialLTC — Additional Endorsement added to Massachusetts EssentialLTC Policies Effective immediately, an Alternate Plan of Care Endorsement will now be included in all EssentialLTC policies issued in the state of Massachusetts. Additionally, for policyholders who already have an active Massachusetts EssentialLTC policy, a letter including this endorsement will be sent letting the policyholder(s) know their existing EssentialLTC policy now includes this provision and to keep the enclosed copy of the endorsement with their policy. A specimen version of this endorsement will be available on the EssentialLTC Agent Resource Center by selecting “New Business” on the navigation bar, then selecting the
Read More

Categories: Industry News, Long-Term Care, and National Guardian Life.
Tags: endorsement, insurance, Long-Term Care, long-term care insurance, LTC, LTCi, National Guardian Life, and NGL.

In-Force Rate Action Announcement: Virginia (Pre-PCS, PCS I, PCS II, Choice 1)

August 19, 2019 | by | Comments Off on In-Force Rate Action Announcement: Virginia (Pre-PCS, PCS I, PCS II, Choice 1)

> PCS II with Stable Premium Option > Choice 1 with Stable Premium Option 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. Virginia has now allowed the following increases: Virginia Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods Pre-PCS 39% 99% PCS I 55% 72% PCS II 55% 72% Choice 1 73%* 55%** 83%* 72%**   * This rate increase applies to policies issued before 10/1/2003
Read More

Categories: Genworth, Industry News, and Long-Term Care.
Tags: Genworth, Genworth Life Insurance Company, insurance, Long-Term Care, long-term care insurance, LTC, LTCi, and premium increase.

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

August 19, 2019 | by | Comments Off on In-Force Rate Action Announcement: Virginia (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. Virginia has now allowed the following increases: Virginia non-AARP Product Series Increase Percentage Privileged Choice 24.8%* 33.9%** Classic Select 24.8%* 33.9%**   Virginia AARP Product Series Increase Percentage Privileged Choice 33.9%** Classic Select 33.9%**   * These rate increases apply to policies issued before 10/1/2003 ** These rate increases apply to policies issued on or after 10/1/2003   Communications Timeline Servicing agents will receive a list
Read More

Categories: Genworth, Industry News, and Long-Term Care.
Tags: Genworth, Genworth Life Insurance Company, insurance, Long-Term Care, long-term care insurance, LTC, LTC Rate Increases, LTCi, and premium increase.