December 22, 2020 | Long-Term Care Newsletter
ARM Home Office Holiday Hours
ARM's Home Office will be closed on Thursday, December 24, 2020 and Friday, December 25, 2020. The office will also be closed on Friday, January 1, 2021. Enjoy the holidays!
LifeSecure is Optimistic About LTCi Market Heading into 2021
As a tumultuous 2020 winds down to a close, LifeSecure is optimistic as it heads into the new year. Despite the unforeseen challenges that hit the industry as a result of the pandemic, LifeSecure remains firm in its conviction that the need for long-term care solutions has never been greater, and is committed to being part of the industry that delivers these solutions. Click the link below to see the full statement from management.

CLICK HERE to view the full statement
Simplified Compensation Structure
National Guardian Life’s EssentialLTC Long Term Care insurance compensation schedule has been simplified and enhanced. The new compensation plan will be available through your BGA starting on January 1, 2021.

Simplified compensation structure
Moving from eight age bands to two age bands:
• Issue ages 40-69
• Issue ages 70-79

If you have an active appointment with National Guardian Life, please reach out to your upline to sign the new schedule as soon as possible. If you have any questions about the new compensation schedule, please contact your upline.

CLICK HERE for more info
Covid-19 Underwriting Guidelines
National Guardian Life has adjusted its underwriting guidelines to account for those who have been tested for Covid-19. If a test is taken:

  • There will be no waiting period for negative testing scenarios such as work, travel, visiting family or testing in advance of an elective surgery (colonoscopy, etc.)
  • There will be a one month waiting period for a negative test result on an applicant with symptoms or direct exposure to another person who was positive
  • A positive test is a 6 month waiting period after full recovery to assess any residuals

These guidelines are subject to change as we all continue to learn more about COVID-19, its implications and as treatments/vaccines are developed. We strongly encourage you to prequalify each case with as many details as possible. Click the link below for the official announcement.

CLICK HERE for the official announcement
Transamerica Exiting LTCi Marketplace in 2021
Transamerica will cease sales of all Long-Term Care insurance in 2021. For new Multi-Life cases, all Service Group Request forms must be at Transamerica and approved by March 31, 2021. All new and re-enrolling cases must complete their enrollments by June 30, 2021. The transition timeline will likely be the same for individual business, but we do not have confirmation yet. We will send out new information as it is announced.
Carrier Covid-19 Reminders
Commissions & Direct Deposit Updates
Beginning in January 2021, John Hancock will only issue commission checks once $1,000 have been accrued, or at the end of the calendar year. To ensure that commissions payments are received as soon as they are available, please sign up for direct deposit. Click the link below to download the direct deposit set-up form.

CLICK HERE for the direct deposit set-up form
Premium Rate Action
In late January, John Hancock will begin policyholder notifications on the next round of John Hancock and Fortis policy in-force rate actions, which will have an effective date beginning with anniversaries on or after May 1, 2021. John Hancock policies issued in Connecticut, Georgia, Maine, Missouri, Oregon, and Pennsylvania are affected. Fortis policies issued in South Carolina and Wisconsin are affected. Click the link below for more information.  

CLICK HERE for more info
Premium Rate Adjustments
Effective March 1, 2021, Mutual of Omaha will be implementing rate action on in-force business in Delaware, and effective April 1, 2021, rate action will be implemented on in-force business in Maine. Click the links below for more info.

CLICK HERE for more info about rate action in Delaware
CLICK HERE for more info about rate action in Maine
Premium Rate Action
Effective December 14, 2020, Genworth implemented rate action on in-force business in Arkansas, California, Georgia, Louisiana, Oklahoma, and South Dakota. Effective December 21, 2020, rate action was implemented on in-force business in Minnesota. Click the links below for more info.

CLICK HERE for more info about rate action in Arkansas
CLICK HERE for more info about rate action in California
CLICK HERE for more info about rate action in Georgia
CLICK HERE for more info about rate action in Louisiana
CLICK HERE for more info about rate action in Oklahoma
CLICK HERE for more info about rate action in South Dakota
CLICK HERE for more info about rate action in Minnesota

Advanced Resources Marketing
Pioneering Long-Term Care Insurance Strategies
313 Washington Street, Suite 225 Newton, MA 02458
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