Transamerica Operations Disrupted by Storm

TRANSAMERICA OPERATIONS DISRUPTED BY STORM WE APPRECIATE YOUR PATIENCE On Monday afternoon, severe storms passed through central Iowa and affected our Cedar Rapids operations. Most importantly, we believe our employees are safe despite widespread damage in the area. Power and internet outages are widely reported, which will lead to a few days of uncertainty. In response, Transamerica and our administrative partner, TCS, have enacted our Business Continuity Plan. During this time, several phone lines will be temporarily closed or rerouted to other locations. Lines that remain open will have longer wait times as we try to balance customer support. These
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Categories: Industry News, Long-Term Care, and Transamerica.

Premium Not Required For LTC Applications

NEW: PREMIUM NOT REQUIRED FOR APPLICATION SUBMISSION WHEN SUBMITTING INDIVIDUAL LTC APPLICATIONS Effective immediately, Transamerica is pleased to share that cash is no longer required at time of application submission. You may now submit applications without initial premium when submitting individual business. Premium payment will become a delivery requirement. However, for clients that wish to bind coverage, the initial premium* must still be paid when the application is submitted. We hope that this option is of value to your business and your clients when appropriate. For questions or assistance with sales, illustrations, or other matters, please contact the Transamerica LTC
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Categories: Industry News, Long-Term Care, and Transamerica.

Closing of New Sales for Agent Sold Medicare Supplement

CLOSING OF NEW SALES FOR AGENT SOLD MEDICARE SUPPLEMENT BUSINESS Our commitment to you and your customers has always been to provide quality protection, products, and services to individuals and families that they can count on. With this in mind, we’ve decided to streamline our focus and product portfolio by closing new sales of our agent sold Medicare Supplement Insurance business. Effective September 28, 2020, we will stop all new sales for this line of business. This includes all new sales for Agent Sold (MSH1) Medicare Supplement Insurance plans A, B, C, D, F, G, and N. DATES OF TRANSITION
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Categories: Industry News, Medicare Supp./Adv., and Transamerica.

Now Available – New BIO for Connecticut Partnership

NEW BENEFIT INCREASE OPTION – NOW AVAILABLE As a reminder, Transamerica launched its new TransCare® II’s 3% Compound Benefit Increase Option on June 1, 2020, available to your clients starting June 1, 2020, for Connecticut Partnership. All the details on this feature (including the consumer and agent brochures) are included here. Any outstanding applications that were signed on or before May 31, 2020, will be accepted through Monday, June 8. After that time, we will only accept the updated application and ask that you submit any outstanding applications this week. If you have any questions, please give us a call
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Categories: Industry News, Long-Term Care, and Transamerica.

New Compound BIO for The Connecticut Partnership

GOOD IS GETTING BETTER NEW TO THE CONNECTICUT PARTNERSHIP: TRANSCARE II 3% COMPOUND BENEFIT INCREASE OPTION People are living longer, and they need competitively-priced, flexible strategies to help protect their loved ones and financial futures. Long term care insurance can help address costs stemming from qualified long term care services, so clients can help protect their quality of life with confidence knowing they’ve prepared. Introducing TransCare® II’s 3% Compound Benefit Increase Option, available to your clients starting June 1, 2020. With level premium, this Compound Benefit Increase Option automatically increases policy benefits by 3%, annually, beginning on its anniversary date.
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Categories: Industry News, Long-Term Care, and Transamerica.

Important Long Term Care COVID-19 Update

LONG TERM CARE PRODUCT GRACE AND LAPSE PERIOD CHANGES Amid the changes we’re making to help agents conduct business during the COVID-19 pandemic, we’ve received guidance regarding how long we can extend grace and lapse periods for long term care policies. We are extending premium payment due dates by an additional 30 or 60 days.* Customers have 90 days from the due date to pay premiums and keep their insurance coverage. Customers should know: Existing policy holders will receive a one-time mailing outlining this extension — please see the non-TFLICNY state-specific letter, and the TFLICNY New York letter for reference
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Categories: COVID-19, Industry News, Long-Term Care, and Transamerica.

Medicare Supplement COVID-19 UPDATE

MEDICARE SUPPLEMENT COVID-19 UPDATE POLICY MAILING AND GRACE PERIOD EXTENSION We hope this email finds you and your loved ones doing well. Unprecedented times call for agile solutions. As COVID-19 concerns continue to grow, we want you to know we’re working hard for your business and your clients. Click the link below to see some of the steps we’re taking to respond, including mailing policies directly to clients and extending grace and lapse periods. We’ll update this page regularly, so please bookmark it to stay up to date. View More   Medicare Supplement COVID-19 UPDATE   #goldencareagent #transamerica
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Categories: COVID-19, Industry News, Medicare Supp./Adv., and Transamerica.

LTC Update — Staying The Course

As COVID-19 concerns take hold, feelings of uncertainty are common — even normal. You may have questions about how to conduct business, including what steps can be taken to minimize personal contact with clients and partners alike. Here are a few updates. End-To-End Remote Selling The Transamerica e-App is designed to help you submit business with ease, no matter where you are. Log into ARC to access the e-App — an easy to use tool to complete and submit your LTC application. DocuSign is provided as part of the e-App process for agents and clients to use to sign and
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Categories: COVID-19, Industry News, Medicare Supp./Adv., and Transamerica.

A Message From Our President & CEO | Transamerica’s commitment to our customers

A MESSAGE TO TRANSAMERICA’S CUSTOMERS From President & CEO Mark Mullin Transamerica continues to closely monitor developments with the coronavirus (COVID-19) and its impact. Unfortunately — and as you well know — it is significantly impacting our lives and our communities, as well as society and the economy. For over a century, we’ve been helping people plan for a secure financial future. We will continue to protect our customers and their savings, and safeguard their long-term financial plans during these challenging times. In February, we began to implement company-wide measures designed to protect the health and safety of our employees,
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Categories: COVID-19, Industry News, Long-Term Care, and Transamerica.

Medicare Supplement Insurance Premium Rate Changes

Transamerica Premier Life Insurance Company will be implementing Medicare Supplement insurance premium rate changes in the following states for new sales and in force policies. The in force policies that are impacted were originally underwritten by Transamerica Premier Life Insurance Company. State Plan Adjusted Percentage Upload Date New Rate Effective Date District of Columbia A, F, G, N 7.5% increase 2/20/2020 4/1/2020 Delaware A, F G N 9% increase 7% increase 0% increase 2/20/2020 5/1/2020 Idaho A, F, G, N 15% increase 2/20/2020 5/1/2020 Kansas A, F, G, N 10% increase 2/20/2020 5/1/2020 Maryland A, F, G N 7.5% increase
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Categories: Industry News, Medicare Supp./Adv., and Transamerica.