CareForward™ positions Thrivent as an industry leader in extended care planning At Thrivent, we believe everyone deserves a financial strategy. And a strategy is only as good as the solutions—products, services or tools—that put that strategy into action. That’s why we’re excited to introduce CareForward™ — our new combination long-term care (LTC) and life insurance solution that launches April 25th in all states except California and New York. CareForward is a combination of LTC insurance and life insurance. Clients can pay a one-time lump sum premium or pay a premium over a period of years. As LTC benefits are used,
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Join Thrivent at the 2022 ILTCI Conference
Visit Thrivent LTCi in the exhibit hall at Booth 48 Thrivent is excited to be a Diamond Sponsor of the 2022 ILTCI conference in Raleigh, NC. Join us March 20-23 for the ILTCI in-person conference at the Raleigh Convention Center. With just under two months until it starts, there are already nearly 600 attendees and 70 exhibitors and sponsors. Seating will be limited, so please plan to join us for one of these two sessions. Monday, March 21 | 1:00 to 1:45 PM | Room 205 Tuesday, Marcch 22 | 1:00 to 1:45 PM | Room 205 We hope to
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Upcoming Thrivent Holiday Closure – January 17
Holiday closure – January 17 Thrivent and our partners at LTCG will be closed on Monday, January 17th in observance of Martin Luther King, Jr. Day. #goldencareagent #thrivent #ltc #happyholidays
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New consumer Strength and Commitment flyer
New consumer Strength and Commitment flyer Thrivent has just released a strength and commitment piece that is approved for use with consumers. The flyer shares the number of LTCi contracts in force, the LTCi benefits paid to date and the LTCi claims paid in 2020. This piece is meant to help share the Thrivent story with those not yet familiar with the company or with Thrivent’s history in long-term care planning. Please choose the appropriate state-specific version below: ICC States Approved for use in: AK, AL, AR, CO, GA, IA, ID, IL, KS, KY, LA, MA, MD, ME, MI, MN,
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Making Holiday Small Talk About Big LTC Decisions
Making Holiday Small Talk About Big LTC Decisions — InsuranceNewNet article Thrivent’s Vice President of Health Insurance Products, Steve Sperka, discusses why it’s critical that Financial Advisors provide guidance to their clients on how to have extended care discussions. This article shares three key guidelines to help advisors encourage these family conversations. Read Article #goldencareagent #thrivent #ltc
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Improved illustrations available beginning 11/20
The long-term care illustrations improvements you requested We heard you, and an updated and improved long-term care illustration will be available on Nov. 20. The updated illustration: Has a modern appearance. Was reorganized to provide a better flow of information. Focuses on what’s important to increase your client’s understanding of the product. Note for advisors licensed in California: The updated illustration will be available once your state approves it. Specific changes you’ll see Page order has been changed to bring the most relevant pages to the front. In general, the key terms and definitions will be printed at the end
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Additional LTCi benefit riders approved for Missouri Partnership
Missouri: Additional LTCi benefit riders approved for Partnership For financial advisors licensed in Missouri Since the launch of Thrivent’s long-term care insurance (LTCi) product, we’ve been working with many state regulators to pursue Partnership eligibility for our increase benefit riders. Missouri has approved Thrivent’s 1% and 2% Annual Increase Benefit (AIB) riders as Partnership qualified for ages 61 to 75, effective Aug. 18, 2021. Thrivent will apply Partnership status to all Missouri LTCi contracts that currently have the 1% and 2% AIB riders for ages 61 to 75. Any contract holders whose contracts were issued with the 1% or 2%
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2020 Long-Term Care Insurance Paid Claim Payments Rise
The nation’s long-term care insurers paid out $11.6 Billion in 2020, an increase over prior years according to the American Association for Long-Term Care Insurance (AALTCI). “Every year benefit payouts grow to individuals needing care and purchased long-term care insurance for that very real risk,” reports Jesse Slome, AALTCI’s director. ”The $11.6 billion paid in 2020 represents an increase of $600 million over the total 2019 claim benefits paid and a significant increase from the $8.65 billion paid out five years earlier in 2016.” The amount reported represents claims for those owning traditional or health-based long-term care insurance. The Association
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2021 Partnership Minimum Benefit Requirements for CA, CT, IN and NY
Each year, the original Partnership states (CA, CT, IN and NY) revisit certain minimum benefit requirements to qualify for their Partnership programs. The requirements that are changing for 2021, as well as some (but not all) minimum Partnership requirements that not changing, are listed below. California Partnership The following minimum benefit requirements for Partnership in California are not changing for 2021. Requirements 2020 2021 Minimum Daily Benefit $230 $230 Minimum Monthly Benefit $7,130 $7,130 Connecticut Partnership The minimum monthly benefit required in 2021 for Connecticut Partnership plans will be $9,095. Because this amount is higher than the current maximum
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2021 Tax Deductibility Limits
Long-term care insurance tax-deductible limits have just been increased offering seniors as much as $420 in additional deductible benefits according to the American Association for Long-Term Care Insurance. “Tax deductibility for those purchasing certain government-approved long-term care insurance is an incredible benefit,” explains Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI). “The tax deductibility becomes especially valuable in retirement when income decreases and health costs generally go up.” The Internal Revenue Service just announced the increased 2021 limits for tax deductibility of long-term care insurance premiums. According to IRS Revenue Procedure 2020-45, a couple age 70
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