June 30, 2020 | Long-Term Care Newsletter
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ARM Home Office Independence Day Hours
ARM's Home Office will be
closed all day
on
Friday, July 3, 2020
in observance of Independence Day. We will re-open at 8:30 AM EST on Monday, July 6, 2020.
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EssentialLTC Launching in California
National Guardian Life's EssentialLTC product will be launching in
California
effective
July 6, 2020
. Click the links below to view the official announcement, as well as an updated State Variation Chart. As a reminder, some of the unique features this standalone LTC product has to offer include:
- Lifetime benefit period
- 1035 Exchange eligible
- Flexible premium payment options, including single pay and 10-pay options
- Full or limited return or premium and cash surrender value options
CLICK HERE
to view the updated State Variation Chart
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"Dog Days of Summer" Sales Contest
National Guardian Life is holding a sales contest between 7/6/2020 and 8/31/2020. Each qualified application submitted between these dates will earn the writing agent a $100 Amazon gift card. Producers who write their first ever NGL EssentialLTC application will earn TWO $100 Amazon gift cards for that application, and then one $100 gift card for each subsequent application.
Applications must be received at the LTC Administrative Office within the contest period. Gift cards will be mailed weekly, and joint applications will count as one application. Click the link below for the official announcement.
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New and Improved Rate Calculator Available
National Guardian Life has updated its rate calculator. Click the link below for access. Updated features include:
- One-page quick quote output
- No login required
- Optimization for smartphones and tablets
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New Marketing Materials
National Guardian Life has updated its Executive Carve-Out flier, and has a new "Coverage Options" flier for New Mexico applications. Click the links below to download the new marketing materials.
CLICK HERE
to view the New Mexico Coverage Options flier
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Updated Cost of Care Materials
Mutual of Omaha has updated its Cost of Care resources to reflect more up-to-date figures. The Cost of Care Calculator allows you to look at current costs and project what they may become in future years. The Cost of Care Brochure provides a comprehensive overview of the cost of services broken down by state. The Cost of Care Flier helps explain misconceptions clients may have regarding what Medicare really covers, illustrating the surprising costs of LTC services. Click the links below to view these materials.
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Now Accepting Emailed Photos of Post-Issue Requirements
Mutual of Omaha will now accept photos of post-issue requirements that are emailed securely. Examples of requirements that can be emailed include policy delivery acknowledgements and amendments. Click the link below for more information.
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Restrictions Lifted for Applications on those Ages 65+ in 30 States
Effective
June 15, 2020
, Mutual of Omaha resumed taking applications on those ages 65+ in 30 states. Click the links below to see a map of the states affected, a FAQ on the restriction lifting process, and an updated Underwriting Guide which
outlines the new face-to-face procedure
.
Please note, there is currently no timeline on when the restrictions will be lifted in the remaining states.
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Premium Rate Action
Effective
June 22, 2020
, LifeSecure began notifying policyholders of upcoming rate increases on in-force first generation LTCi policies (series LS-0002 issued up to and including 2014) in
Delaware
,
Montana
,
West Virginia
,
Wyoming
, and
Washington, DC
. Click the links below for the official announcement, as well as sample policyholder notification documents.
CLICK HERE
for a sample notification letter, benefit selection form, and FAQ document
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Premium Rate Action
In late July, John Hancock will begin policyholder notifications on the next round of Fortis policies impacted by rate action, which will have an effective date beginning with anniversaries on or after
November 1, 2020
. Fortis policies issued in
Iowa
and
Michigan
are impacted. Click the link below for more information.
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Premium Rate Action
Effective
June 22, 2020
, Genworth implemented rate action on in-force business in
Wisconsin
. Click the link below for more information.
CLICK HERE
for more information about rate action in Wisconsin
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Advanced Resources Marketing
Pioneering Long-Term Care Insurance Strategies
313 Washington Street, Suite 225 Newton, MA 02458
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