SecureCare and the WA Cares Fund exemption

SecureCare likely qualifies for WA Cares Fund exemption The state of Washington created the WA Cares FundSM to address the future long-term care (LTC) crisis. The fund provides an LTC benefit for all eligible workers, which will be funded by a payroll tax that begins in January 2022. Benefits will be paid in $100 stackable units, with a lifetime maximum of $36,500 (adjusted for inflation). The benefit will be funded by a payroll tax that begins in January 2022. However, Washington residents who have a personal LTC insurance policy issued before November 1, 2021 can apply for an exemption from
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Categories: Industry News, Linked Benefit/Hybrids, and Securian.

Changes to COVID-19 participation guidelines

Changes to COVID-19 participation guidelines Securian Financial remains focused on delivering high levels of service, helping customers with their insurance needs, and maintaining the company’s financial strength. Your support in delivering on this focus has provided valuable insights to best navigate the unpredictable nature of a pandemic while addressing the additional risks it presents. Since these participation limits were implemented, our promise has been to actively review these guidelines. Along the way, we have delivered on a request for transparency to enable you to make the best decisions for your customers. While not yet at the final stage in our
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Categories: COVID-19, Industry News, and Securian.

New! Text message notifications for SecureCare tele-interview

We are excited to announce an enhancement to the SecureCare Universal Life underwriting process: Beginning June 1, clients can receive text message notifications directing them to schedule their tele-interview. The tele-interview itself will still need to be completed over the phone, but the texts can be helpful reminders that a tele-interview is needed, making it easier to schedule an assessment and get in touch with an interviewer. How will this work? LTCG will still contact customers the same amount of times they do today, however, a contact attempt will now be defined as either a phone call or text message.
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Categories: Industry News, Life Insurance, and Securian.

How COVID vaccination affects underwriting decisions

How we’re approaching COVID-19 vaccination Securian Financial remains focused on delivering high levels of service, helping customers with their insurance needs, and maintaining our financial strength. Your support in delivering on this focus has provided valuable insights to best navigate the unpredictable nature of a pandemic, while addressing the additional risks it presents. Over the past few months, much of our attention has turned to COVID-19 vaccinations. Not surprisingly, many questions have arisen on use of vaccination information in underwriting. In response, our Medical & Applied Research Services team has been actively monitoring vaccine efficacy, safety, availability and uptake, which
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Categories: COVID-19, Industry News, Life Insurance, and Securian.

New! Text messaging feature to help customers start their tele-interview

Life Insurance, Technology, Securian Financial | May 13, 2021 New! Text messaging feature to help customers start their tele-interview To make the underwriting process more convenient for our customers than ever before, we are excited to announce the introduction of text message notifications. In partnership with APPS, we are piloting text messages to customers who need to complete a tele-interview. The tele-interview will still need to be completed over the phone, but the text can be a helpful reminder that a tele-interview is needed, making it easy for your clients, to get in touch with an interviewer. How will this
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Categories: Industry News, Life Insurance, and Securian.

S&P Affirms Securian’s AA- (Very Strong) Rating & Stable Outlook

S&P maintains Securian Financial’s AA- rating and stable outlook On Friday, May 15, 2020, S&P published a Research Update on Securian Financial, affirming our insurance financial strength rating of AA- (Very Strong) and our Stable outlook. The rating and outlook apply to Securian Financial affiliates, Minnesota Life Insurance Company and Securian Life Insurance Company. S&P cites our excellent capital position, strong business diversity, exceptional liquidity, well-diversified investment portfolio and tight risk controls as the major reasons for affirming our ratings and outlook. Our strong industry ratings reflect how our historical approach to smart growth and strong enterprise risk management keeps
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Categories: Industry News, Life Insurance, and Securian.

Securian’s Corporate Social Responsibility Report

In a year of pivots, volunteerism was no stranger to change in 2020. We’re so proud of our employees’ commitment to giving back. Read what they accomplished in our 2020 Corporate Social Responsibility Report. Securian’s Corporate Social Responsibility Report     #goldencareagent #minnesotalife #securian
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Categories: Industry News, Life Insurance, and Securian.

SecureCare Video Resource Library

SecureCare Video Resource Library Why wait to become an expert? Each video in our SecureCare Video Resource Library is designed to help give you the product knowledge, prospecting tools and sales processes you need to get up to speed on SecureCare™ Universal Life and start closing cases. And we’ve recently added new videos and features to help make this library even more user-friendly than before! Now you can sort videos by topic so finding the content that’s relevant to you has never been easier. PLUS we’ve added new videos covering crucial topics such as: Some of our favorite sales ideas
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Categories: Industry News, Life Insurance, and Securian.

NEW! Phone number for financial professionals

NEW! Phone number for financial professionals We heard you, loud and clear. We pride ourselves on being good listeners. It’s how we align our products and processes with your needs. That’s why we’re excited to announce a new dedicated phone number for you and your team. NEW! dedicated phone line for financial professionals: 833-365-0329 Now you can look forward to: One phone number to access all your annuity and life insurance servicing needs, from new business to claims and everything in between Simple phone menu options – only listen to options applicable to you! Prioritized queuing – get your call
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Categories: Industry News, Life Insurance, and Securian.

7702 – Product changes and transition rules

7702 changes Background With the passage of the Consolidated Appropriations Act of 2021 on December 27, 2020, a change was made to Section 7702 of the Internal Revenue Code. This change outlined several requirements permanent life insurance policies must meet in order to qualify as a life insurance contract for tax purposes The change affects the life insurance industry by replacing the statutory interest rate assumptions (from 1984) from a previously hard-coded 4% rate to a floating rate. These changes will impact the limits associated with definitions of life insurance in the Guideline Premium Test, Cash Value Accumulation Test and
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Categories: Industry News, Life Insurance, and Securian.