November 24, 2020 | Long-Term Care Newsletter

ARM Home Office Thanksgiving Hours   ARM's Home Office will be closed on Thursday, November 26, 2020 and Friday, November 27, 2020. We will re-open at 8:30 AM EST on Monday, November 30, 2020. Enjoy the holiday!

November is Long-Term Care Awareness Month!   This November marks the 20th Anniversary of Long-Term Care Awareness Month! During these challenging times, health is at the front of everyone's mind. This month further amplifies the importance of preparing for the need for long-term care. For those looking for tools to start these conversations with clients, several carriers have put out suites of resources geared toward Long-Term Care Awareness Month. Brighthouse Financial has created a comprehensive, in-depth set of tools, ranging from agent training webinars to client-facing marketing to general education about common long-term care issues. Mutual of Omaha has also put out a package of resources geared toward long-term care awareness and education. Click the links below to access these resources and start crafting a plan for your Long-Term Care Awareness Month conversations! CLICK HERE to view Brighthouse Financial's LTC Awareness Month resources CLICK HERE to view Mutual of Omaha's LTC Awareness Month resources

Reduced Modal Factor in Arizona and DC   Effective November 20, 2020, the modal premium factor utilized to determine the monthly premium amount for EssentialLTC is being lowered in Arizona and Washington, DC. With this implementation, the monthly modal factor will now be 0.875 in all states where EssentialLTC is available. Click the links below for more information about the change and an updated state variation document. CLICK HERE for more information CLICK HERE for the updated state variation document

Schedule Pages to be Included in Policies   Effective November 25, 2020, National Guardian Life will begin including copies of schedule pages with all issued policies. Copies will be included with all EssentialLTC policies, except for California which will be available at a later date.

Carrier Covid-19 Reminders

CLICK HERE to see Transamerica's updated announcement regarding Grace Periods and policy mail outs CLICK HERE to see National Guardian Life's announcement stating that they're accepting apps on those 66+ CLICK HERE to see Genworth's announcement about the extension of Grace Periods CLICK HERE to see John Hancock's announcement about the extension of Grace Periods

Premium Rate Action   Effective February 1, 2021, Mutual of Omaha is implementing rate action on in-force business in Iowa, Oklahoma, and Florida. Click the link below for more info. CLICK HERE for more info

Premium Rate Action   Effective November 16, 2020, Genworth implemented rate action on in-force business in South Dakota, Washington DC, Wisconsin, and Wyoming. Effective November 23, 2020, rate action was implemented in Utah. Click the links below for more info. CLICK HERE for more info about rate action in South Dakota CLICK HERE for more info about rate action in Washington DC CLICK HERE for more info about rate action in Wisconsin CLICK HERE for more info about rate action in Wyoming CLICK HERE for more info about rate action in Utah

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