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November is Long-Term Care
Insurance Awareness Month!
It’s a month when the industry comes together to highlight the need for long-term care insurance. Only 18% of the population own long-term care insurance but those turning 65 today have a nearly 70 percent chance of needing some type of long-term care services as they age, and 20 percent will need it for longer than five years. (Source: U.S. Department of Health and Human Services)

The market for LTC coverage will only continue to grow as the population of older consumers increases -- we're already seeing an uptick in this business. Encourage your clients not to leave it all to chance. Getting long-term care insurance is a simple way to protect their assets, spare their family from financial and emotional stress, and take charge of their care.
Get the Facts
Left - Marshall Clement, CLTC, LTCP, GPAgency's Director of LTC Planning Solutions
Right - John Gibbons, Mutual of Omaha's LTC Sales Director

Photo taken following a live/online program on October 13, 2021, Breakfast with MOO. John did a great job of framing the long-term care need and providing guidance on how to successfully convey this need to your clients. See a few of his remarks below. We plan to have John back before the end of the year for another webinar -- stay tuned.
Mutual of Omaha Program Highlights
Your clients need a solution that helps them protect their assets and preserve their independence.
Mutual Omaha Program Highlights

Roughly, the typical purchaser of LTC coverage is age 55;
the typical claimant is age 80.

Ask your clients how they plan to pay for their LTC expenses?
  • Self-fund? (on average, retirees will experience 4 bear markets)
  • Care or financial support from family? This issue can tear families apart. Even multi-millionaires purchase to avoid strife among their heirs.
  • Medicare? Only covers up to 100 days. Medicaid? Must be indigent to receive.
  • Transfer the risk? That is, transfer it to an LTC insurance plan.
Tax considerations/benefits
  • Pay eligible LTCi premiums from a health savings account (HSA) or medical savings account (MSA).
  • Qualified LTC insurance benefits are tax-free to the extent they do not exceed the greater of: 1) Qualified long-term care expenses or 2) Per diem amount ($400 per day in 2021).
Key Phrases
  • What have you allocated in your retirement portfolio for long-term care? The Answer: Unless you have planned for long-term care expenses, you have allocated everything for long-term care expenses.
  • If one of you has an extended health care need, which of your assets would you “LIQUDATE” first?
  • This plan is not designed to make you rich. It is designed to keep you from being poor.
  • Think of LTC coverage as anti-nursing home insurance if your desire is to stay in your home if you need care.
  • When you don't plan for long-term care expenses, recognize the devastating consequences facing the people you love.

John cites that couples have a 91% chance that one spouse will have an extended care event over the age of 65.

Mutual Care® Custom Solution policy includes an inflation protection buy-up option that allows your clients to increase or decrease inflation protection once each year.

Consumer Video – Need for LTCi
Click on image to access video
LTC Resources
Our LTC/LTC Rider Carriers
The pool of LTC carriers has diminished greatly over the past decade but there are still a lot of great options.

A traditional stand-alone LTC insurance plan is by far the most comprehensive, cost-efficient way to create a pool of money exclusively for potential LTC costs. If not an option, you still may be able to offer your client some level of financial protection through their life insurance or annuity plan should they experience a chronic or critical medical condition or become terminally ill.

Upcoming GPA CE Classes/Programs
Online/Onsite. Click on links for details/registration
October 20 @ 11:00 am - 1:00 pm
States: North Carolina, Massachusetts, South Carolina, Vermont, New Hampshire, and Nevada.

November 4 @ 11:00 am - 12:00 pm
Open to all

November 17 @ 11:00 am - 1:00 pm
States: North Carolina, Maine, Massachusetts, South Carolina, Vermont, New Hampshire, and Nevada.
Carrier Briefs
John Hancock:
For cases you are targeting to include in your 2021 sales results, please note the key submission deadlines outlined in this flyer.
Effective 10/20/2021, premiums for the Grow-Up Plan will increase. Electronic applications submitted on the Gerber Life Agent Portal on or after 10/20/2021 will be issued with the new rates. Paper Applications signed prior to 10/20/2021 must be received in the home office by 11/03/2021 in order to obtain the old rates. Any paper applications signed on or after 10/20/2021 will be issued with the new premium rates.
Note: Effective10/20/2021, the policy form number for the Grow-Up Plan in New York will change. For a list of policy form numbers and product state availability, click here. 
Effective immediately, new Premium Finance cases are on hold until 2022. Securian has reached its Premium Finance capacity limits for 2021. Proposed insureds already reviewed and allowed to proceed to underwriting by the Premium Financing Committee may still submit formal applications for placement consideration this year.
Effective October 2, 2021, the minimum issue age for Trendsetter LB band 1 ($25,000–$99,999) will increase from age 18 to age 23. This means proposed insureds must be 23 years or older for a Trendsetter LB policy with a face amount less than $100,000.
Carrier Webinars
Webinar: Ways and Means Committee draft legislation
Thurs. October 21, 2021, 2 pm ET, 1 pm CT, noon MT, 11 am PT
In August, the House Ways and Means Committee released and approved draft legislation as part of Congress’ ongoing $3.5 trillion budget reconciliation bill. The legislation includes significant tax proposals that, if passed, will dramatically increase what high-net worth individuals and corporations pay. Join Amy Bryant, Advanced Sales Counsel, for this special webinar on potential individual and capital gains, estate and gift tax increases and retirement plan changes.

Webinar: The Secure Act and the Impact on Inherited IRAs
Thurs. October 21, 2021, 1 pm CDT
Learn about the changes to IRAs and the impact this has had on inherited IRAs. They will cover the changes that occurred on 1/1/2020 that dramatically reduce the number of years a non-spouse may hold the inherited IRA before it will all be taxable. 

Webinar: David McKnight, best-selling author of The Power of Zero
Thurs., October 28, 1–2 p.m. ET
Join Hector Martinez, member of Equitable’s Operating Committee, as he hosts this special event, featuring David McKnight, financial and tax-planning expert and best-selling author of The Power of Zero, as he discusses strategies with the potential to help clients:
reduce their tax burden in the future
keep more of their assets in retirement
create a tax-free income in retirement

Check out David McKnight’s thought leadership paper, Embracing distribution planning with a tax-free strategy, written exclusively for Equitable.
Marketing Ideas

4 Ways to Help Lower Your Clients’ Taxes

Taxation can be one of your clients’ largest expenses in retirement. Why not help them pre-pay those taxes now? Learn how to help your clients pre-fund their retirement taxes using life insurance as a financial tool (LIFT).

Get started showing LIFT strategies with our fully interactive financial professional guide.

New Digital Platform for Swift Term
This new platform offers the potential for instant contract delivery, which was outlined in their recent webinar:
  • Three paths for its term coverage: age 20-60; 10/15/20/30-yr period; $100K-$2M coverage; standard nicotine to super preferred non-nicotine rates; coverage is renewable and convertible.
  • The application is initiated via digital drop ticket through iPipeline’s iGo. There is a validation check for agent’s appointment – they do support Just-in-time appointments. Whole process should take about 5-7 minutes.
  • From there, the client is emailed/texted the application. Once completed/submitted, their application will travel down one of these three paths below (decision times listed):
  1. Instant Approval (Automated): approx. 25 minutes
  2. Light Touch (Accelerated): 24-72 hours (an answer to a medical question may require underwriter review)
  3. Fully Underwritten: 30 days

Symetra claims 70+% of all applicants are approved via path 1 or 2, both fluidless/no exam. Throughout process, client, agent, and BGA receive email updates.
Term for Baby Boom
Birth rates are expected to increase by 10% – 15% this fall.
A recent medical research study predicts a COVID-19 Baby Boom is underway. As more parents begin bringing home their new bundles of joy, there’s no better time to offer them affordable Sage Term Life Insurance and the convenience of Accelewriting.®

Affordable coverage up to $1 million
  • 100% of policies issued without a paramed exam (may be requested to improve an offer)
  • 100% of policies issued without a telephone interview
  • 61% of underwriting decisions received in less than 5 days

Illinois Mutual

Currently, women make up nearly 47% of the U.S. labor force.
Unfortunately, women are often underserved when it comes to disability income insurance (DI). There are 32 million unmarried female workers in the U.S. That's 25% of the U.S. workforce, and over half of them do not have DI coverage. Read article

Free Will Planning for Nationwide Life Clients

Having a will can save clients’ loved ones’ time, stress and money later on. Nationwide – in partnership with FreeWill – now offers a simple online will planning tool for life clients. In as little as 20 minutes, clients can create a customized will that’s 100% free and 100% legal, with no lawyer required. They don’t even need to be Nationwide policy owners to access this benefit, which means clients can share this service with their family and friends.
Carrier Promotions
American National Cash Bonus for Life & Annuity
October 1 – December 31, 2021 (click on images to learn more)
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GPAgency's Advance Compensation program is for NEW Term and UL policies sold through Protective AND Legal & General.
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Competitively-Priced Term Life Insurance in Less than 9 Minutes!

10, 15, 20, 25 & 30-year term life coverage: $50K to $1.5M.

Contact Eric to learn more: eric@gpagency.com 

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Click HERE for a recording of our recent webinar.

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