> 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
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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
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What are LTC Post Issue Requirements?
Below is an illustration of the typical LTC application process: STEP 1 Application Submission STEP 2 Risk Assessment STEP 3 Final Action STEP 4 Policy Delivery STEP 5 PIR Submissions You may think that your work is complete by Step 4: Policy Delivery; however, in some situations post issue requirements (PIRs) are needed. Awareness of potential PIRs will help you maintain customer satisfaction as well as monitor your cases until final policy delivery. So… What is a Post Issue Requirement? PIRs may include one or more of the following items: Outstanding Premium Total premium is due 60 days from
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Upcoming Teleconference: Forms That Speed Up Your Process
Join us for the third installment of our bi-monthly teleconference series with our underwriters! Our Next Teleconference is scheduled for August 22, 2019, 10 a.m. CST Topic: Forms That Speed Up Your Process When: Thursday, August 22 at 10 am Central Conference Number: 1-866-220-3018 Conference ID: 6398347 Check out this flyer for all the details. Do you have questions on the topic, or do you have something you’d like to discuss? Email distribution.marketing@mutualofomaha.com prior to the teleconference. Upcoming Teleconference: Forms That Speed Up Your Process #goldencareagent #mutualofomaha
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United Security Assurance – ADLs vs IADLs
What’s the Difference Between ADLs and IADLs Activities of daily living (ADLs) are a series of basic activities performed by individuals on a daily basis necessary for independent living at home or in the community. The 6 basic activities of daily living are as follows: Eating — Feeding oneself by getting food into your body from a receptacle (such as a plate, cup or table) or by a feeding tube or intravenously. Bathing — Washing oneself by sponge bath; or in either a tub or shower, including the task of getting in or out of the tub or shower. Dressing
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Video: Go Behind the Scenes with an LTC Underwriter
We’re excited to bring you the first in a series of video interviews with members of our underwriting team! This video interview is with the manager of our underwriting area, Demerri Bond. She’s spent the last 20 years on our long-term care underwriting team, but before that, she was a long-term care nurse. The transition from being someone providing care to someone providing benefits for those who need it has given her a unique perspective that you’ll want to see. Check it out! NEW FEATURE Not discussed in this video is a brand-new option for applicants 59 and younger. In
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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
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Start Earning LTC Marketing Credits
Your long-term care marketing credits can help build your Mutual of Omaha business. Each credit is worth $1 and can be used for things like: Leads you purchase from a vendor Purchase LTCi leads Pay postage for LTCi mailings Earn a CLTC designation Conduct LTCi seminars You start automatically earning marketing credits on your fifth LTCi application submitted and placed after October 1, 2018.* How to Redeem Your Credits Simply submit your paid invoice or receipt along with the Health Marketing Credits Reimbursement form. You must redeem your credits by December 1, 2019. *Some exclusions apply. Details about the LTC
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Are You Getting Closer to Joining Us in Montreal?
Earn An Elegant Getaway A Mutual of Omaha Incentive Trip for Long-Term Care (LTC) Producers Plan to be one of the top Long-Term Care producers (and a guest) and join us for four days in 2020 at the Ritz-Carlton Montreal. RITZ-CARLTON MONTREAL Quebec, Canada June 11 – June 15, 2020 Classic architecture, exquisite dining and impeccable amenities-the Ritz-Carlton Montreal expertly provides an experience of luxurious comfort. Celebrate your outstanding achievements, along with other sales leaders and Mutual of Omaha, while exploring a stunning city. Qualify in 2019 and join us in unforgettable Montreal. View the Incentive Trip Flyer
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New Underwriting Guideline Offering
From the Desk of Amanda Blackburn We appreciate your business, value your relationship and always want to keep you informed. Mutual of Omaha is currently reviewing and will begin updating the MutualCare® Solutions underwriting guidelines soon. Until then, we want to share a great new service regarding physical exams with you effective immediately! Regardless of age, our underwriting guidelines require an applicant to have completed a favorable physical exam within the past 2 years. If no exam has been completed, clients have the following options to meet this requirement. Option 1 — All Applicants Schedule and complete an exam with
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