August 11, 2020 | Long-Term Care Newsletter
Premium Not Required for App Submission on Individual Business

Effective immediately, Transamerica no longer requires a premium deposit along with applications for individual business. Outstanding premium will be collected on delivery.

It is always encouraged to collect an initial premium deposit, and initial premium will still be accepted for those who wish to submit a partial or full modal payment upon application. For clients who wish to bind coverage, initial premium must still be paid when the application is submitted (2 month's of premium in every state except California, where no more than 1 month will be accepted).

This change is not exclusive to the Transcare III product. It is for ALL individual business - which includes states that still use Transcare II 2016 as the individual product.

Please note that this change only pertains to true individual business. For worksite groups that use direct billing as the payment method, premium will still be required for the application.

Click the link below to view the official announcement.

CLICK HERE to view the official announcement
Reminder: Underwriting Guidelines for those Affected by COVID-19
 
Transamerica has updated its underwriting guidelines to account for those who have been affected by the COVID-19 Virus. Click the link below to view the updated Underwriting Guide, and flip to page 32 to view the full COVID-19 guidelines.
 
CLICK HERE to view the updated Underwriting Guide
Human API Pilot for LTC Applications
 
Effective August 10, 2020, Mutual of Omaha will launch a new pilot with Human API to obtain applicants' electronic health records as part of the underwriting process. Client's will now have the ability to transfer medical records electronically via their personal patient portals. Client participation is completely optional. Clients will receive an email from Mutual of Omaha inviting them to participate in the Human API process, but they can disregard it if they'd like to continue the traditional underwriting process. Click the link below for the official announcement.
 
CLICK HERE to view the official announcement
Reminder: Restrictions Lifted for those Ages 65+
 
As a reminder, Mutual of Omaha is now accepting applications on those ages 65+ in all states except California, Oregon, and Washington.
 
Mutual of Omaha is continuing to evaluate the lifting of restrictions for the remaining states. Until then, these states must follow the guidelines and processes outlined in the temporary underwriting guideline communication.
 
Click the links below to see an updated FAQ on the restriction lifting process, which includes a revised list of the states affected.
 
CLICK HERE to view the updated FAQ
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
"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.

CLICK HERE to view the official announcement
Premium Rate Action
 
Effective August 3, 2020, Genworth is implementing rate action on in-force business in Nebraska. and effective August 10, 2020, it is implementing rate action on in-force business in Alaska, Alabama, and South Carolina. Click the links below for more info.

CLICK HERE for more info about rate action in Nebraska
CLICK HERE for more info about rate action in Alaska
CLICK HERE for more info about rate action in Alabama
CLICK HERE for more info about rate action in South Carolina



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