Illinois Partnership Active Exchange

In October, customers with eligible policies meeting Illinois partnership requirements received notification letters informing them their LTC policy is partnership qualified. Customers with LTC13 policies not qualifying for the passive partnership exchange may choose to participate in an active exchange. An active exchange requires policyholder(s) to apply for a coverage change, modifying coverage to meet state inflation protection requirements. Both a new application and the “National Partnership Exchange Cover Letter” are required to be completed and submitted with the application to be treated as a coverage exchange. There will be full underwriting on the increased coverage. Letters notifying customers of
Read More

Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

2019 Long-Term Care Insurance Claims Data Shared

It’s roughly 13 years from the a consumer purchases a long-term care insurance policy to the beginning of a claim according to information being shared by the American Association for Long-Term Care Insurance (AALTCI). “The information comes from one of the very few relevant studies of long-term care insurance so the insights are of enormous value,” explains Jesse Slome, director of the group. Slome, who is the author of numerous consumer guides that focus on long-term care and retirement planning, was conducting a conference call with leading long-term care insurance specialists. According to the Association director, the data comes from
Read More

Categories: GoldenCare News, Industry News, and Long-Term Care.

Illinois Partnership Passive Exchange

In December 2018, Mutual of Omaha announced the Illinois Partnership approval. The next phase of the process begins October 2019. Impacted customers, those with relevant policy forms and meeting state inflation protection requirements, will receive notification letters beginning mid-October. This letter will inform customers their LTC policy is now partnership-approved. Click here to view the Partnership Program page on Sales Professional Access (SPA) for more information on LTC Partnership.   Illinois Partnership Passive Exchange   #goldencareagent #mutualofomaha
Read More

Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

EssentialLTC – Partnership Exchange Mailings in 3 States (KY, OH & OR)

With the recent Partnership policy approval in select states, we are happy to announce that the exchange of eligible National Guardian Life (NGL) EssentialLTC policies is scheduled to occur in the following three states: Kentucky Ohio Oregon Exchanges of eligible EssentialLTC policies in these states are scheduled to begin July 19, 2019.   Eligibility for Automatic Exchange to a Partnership Policy To be considered as eligible for an automatic exchange to a Partnership policy, the inforce EssentialLTC Long Term Care insurance policy would need to meet all of the following LTC Partnership eligibility requirements: active policy issued and inforce that
Read More

Categories: Industry News, Long-Term Care, and National Guardian Life.

EssentialLTC Partnership Policy Available In Illinois

Change effective May 31, 2019 National Guardian Life Insurance Company (NGL) is pleased to announce that effective May 31, 2019, the EssentialLTC policy will now be available as a partnership policy in the state of Illinois. Applications submitted in Illinois that are dated May 31, 2019 and after require the following additional application forms: Form Name Form # Action Acknowledgement Regarding Partnership Policy Qualification NLTCPRT-ACK Submitted with application   The new application forms will be available via the Agent Resource Center on May 31, 2019.   Determination of Partnership Eligibility EssentialLTC policies issued in Illinois will automatically be issued as
Read More

Categories: Industry News, Long-Term Care, and National Guardian Life.