Broadtower Base

Carrier Updates

Thrivent: CareForward’s Underwriting Tools

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Discover the new underwriting tools Thrivent has developed for CareForward.

Thrivent launching linked-benefit LTCi on 4/25

In addition to their stand-alone LTCi solution, Thrivent is excited to introduce CareForward™ — their new combination long-term care (LTC) and life insurance solution that launches April 25th in all states except California and New York.

CareForward will be available through Broadtower beginning April 25.

In the lead-up to the launch, we will be sharing essential tools and information. This week we are pleased to share details about CareForward’s underwriting.

CareForward – Underwriting Tools now available

All-in-One Underwriting Guide

The new underwriting guide contains information for both the traditional Thrivent Long-Term Care Insurance and CareForward.

Sections in the guide are identified as to whether they are specific to LTCi
or CareForward, or both.

This guide should be used as a reference only.

Always prequalify health with the underwriters if the applicant has health concerns.

CareForward will be underwritten in-house by Thrivent, while the traditional LTCi solution will continue to be underwritten by LTCG. If pre-screening with both products, the prescreen form would need to be sent separately to each group.

Download UW Guide

Additional Underwriting Tools:

CareForward: Accelerated Underwriting

Accelerated Underwriting is a “triage” approach to provide an easier and faster underwriting process for proposed insureds who present a lower risk.

This approach attempts to balance the overall mortality and morbidity by gaining more information — without extra effort from the proposed insured — from additional sources, which could ultimately speed up the process (i.e., eliminate need for exam and blood chemistry profile).

To clarify, Accelerated Underwriting is not:

  • “Simplified underwriting,” which offers a simple process as a trade-off for higher rates; or “Guaranteed issue,” which offers guaranteed coverage as a trade-off for higher rates.

CareForward: Accelerated Underwriting guidelines

  • $50,000 to $500,000 in total initial face amount.
  • Ages 18 to 60.
  • Not available for applicants age 50 through 60 if the applicant has not seen a physician in the past 24 months.
  • There is an automatic 10% holdout on Accelerated Underwriting applications.

CareForward sessions

Introduction to CareForward by Thrivent

Learn about the new combination long-term care (LTC) and life insurance solution from Thrivent. CareForward is designed to be highly competitive in the marketplace and offer maximum leverage if care is needed. Thrivent will provide an overview of this new solution, and give you a demo of their new comparison tool that illustrates CareForward alongside our traditional LTCi solution.

Register for an upcoming session:

NOTE: At registration, when prompted for your Thrivent BGA, enter Broadtower.

These sessions will not be recorded.

Securian SecureCare III is here!

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SecureCare III, a long-term care (LTC) and nonparticipating whole life insurance policy, is the next evolution in Securian’s SecureCare product line. It has all the things you love – plus more flexibility.

From enhanced premium payment flexibility to choosing the protection that matters most, clients can custom build the LTC solution that works for them.

Join Securian for a webinar to uncover what’s new with SecureCare III:

  • Simplified product design
  • Three return of premium options, including LTC Boost*
  • Competitive sweet spots
  • And more!

SecureCare III –What You Need To Know
DATE: Wednesday, April 6 • TIME: 1 p.m. CST
SPEAKER: Shannon Pogreba, Business Development Consultant

RESERVE YOUR SPOT

*The death proceeds, return of premium amount and long-term care benefit amount depend, in part, on the return of premium option selected on the policy application. This option cannot be changed after the policy is issued. For more information regarding return of premium options, please review the contract.

Mutual of Omaha LTC Rate Refresh and Benefit Changes in California

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Mutual of Omaha announces LTC New Business Rate Refresh and Benefit Changes in California effective April 1, 2022.

From the desk of Tess Grace, SVP Brokerage Sales with Mutual of Omaha

As a leading long-term care insurance carrier, Mutual of Omaha has a responsibility to our policyholders and distribution partners to ensure our pricing strategy and product offerings are in line with industry trends, internal claims data and the economic environment.

In 2020, Mutual of Omaha began implementing new rates and benefit option changes to the MutualCare® Solutions Portfolio in approved states. Effective April 1, 2022, we will be implementing these changes in California.

Rate Adjustments

Premium adjustments may vary by age, sex and benefit selection. You may view the new rates by referring to the quoting software beginning April 1, 2022.

Cash Benefit Changes

  • MutualCare® Custom: 25% of home health care benefit up to initial maximum of $2,000 per month
  • MutualCare® Secure: 25% of home health care benefit up to initial maximum of $2,000 per month

Partner Premium Allowance Changes

  • Both Issued: 15%
  • One Issued: 5%

Transition Rules

  • Applications for MutualCare® Solutions in California must be signed and received* by March 31, 2022, 11:59 p.m. CT to receive the old rates.
  • Applications signed and received after April 1, 2022, will require a new application (MA6012_CA Rev) and will receive the new rates.
  • No exceptions will be made.

*If your organization has a back-office stop to scrub applications, Mutual of Omaha must still receive applications at the home office on or before March 31, 2022, 11:59 p.m. CT.

Software, Materials and Forms

  • Winflex, MutualCare® Solutions and mobile quote software will be available for download effective April 1, 2022. To ensure rates are appearing properly, please update your software on or after this date.
  • New paper applications, e-Applications and marketing materials will be available on April 1, 2022.

Thank you for your continued trust in Mutual of Omaha. We look forward to providing LTC solutions for years to come.

NGL’s Spring Production Contest Has Started!

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Starting March 21 you can earn a $100 Amazon gift card for each qualified EssentialLTC application


Sell EssentialLTC, National Guardian Life Insurance Company’s (NGL) Long-Term Care insurance product, to earn extra cash!

Starting March 21 you can earn a $100 Amazon gift card for each qualified EssentialLTC application submitted.

Promotion details:

  • Each qualified application submitted between 03/21/2022 and 04/30/2022 will earn the writing producer a $100 Amazon gift card.
  • Applications must be received at the NGL LTC Administrative Office by mail, E-APP, or eUpload within the 03/21/2022 – 04/30/2022 time period.
  • Joint applications count as one application.
  • Credit will only be given to the writing producer.
  • Credit will only be given for applicants who do not already have an EssentialLTC policy.
  • Clearly uninsurable applications will not be counted.
  • Gift cards will be sent weekly.

Mutual of Omaha LTC New Business Rate Refresh and Benefit Changes for Additional States

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From the desk of Tess Grace, Senior Vice President, Brokerage Sales, with Mutual of Omaha

As a leading long-term care insurance carrier, Mutual of Omaha has a responsibility to their policyholders and distribution partners to ensure their pricing strategy and product offerings are in line with industry trends, internal claims data and the economic environment.

Last year, Mutual of Omaha began implementing new rates and benefit option changes to the MutualCare® Solutions Portfolio in approved states. Effective November 1, 2021, Mutual of Omaha will be implementing these changes in two additional states.

Impacted States

Montana and New York

Rate Adjustments

Premium adjustments may vary by age, sex and benefit selection. You may view the new rates by referring to the quoting software beginning November 1, 2021.

Cash Benefit Changes

  • MutualCare® Custom: 25% of home health care benefit up to initial maximum of $2,000 per month
  • MutualCare® Secure: 25% of home health care benefit up to initial maximum of $2,000 per month

Partner Premium Allowance Changes

  • Both Issued: 15%
  • One Issued: 5%

Transition Rules

New paper and e-Applications for MutualCare® Solutions will be required for impacted states beginning November 1, 2021. The new application pack cover series will end in _1121. Please discontinue use of all old applications based on the transition rules below. The following transition rules will apply:

Paper Applications

  • Applications with a signed date of November 1, 2021, and later will get the new rates and benefits and will require Mutual of Omaha’s new application.
  • Applications signed prior to November 1, 2021, and received in the Mutual of Omaha Home Office on or before November 12, 2021, will receive the current rates and product benefits.
  • Old applications received after November 12, 2021, will not be accepted regardless of application sign date. Applications will be closed, and a new application will be required to apply for coverage. No exceptions will be made.
  • Back dating applications is not allowed and will not be accepted.

e-Applications

  • If you have a pending e-Application started, it must be signed on or before October 31, 2021, to receive the old rates and benefits. You can access your pending application, complete and submit like normal.
  • Pending e-Applications must be submitted to the Mutual of Omaha Home Office no later than November 12, 2021, or they will not be accepted.

Quoting Software

Winflex, MutualCare® Solutions, and mobile quote software will be available for download effective November 1, 2021. To ensure rates are appearing properly, please update your software on or after this date.

Marketing Materials and Forms

  • Old paper applications will be available for download only on Sales Professional Access until October 31, 2021.
  • New paper applications, e-Applications and marketing materials will be available on November 1, 2021.

Thank you for your continued trust in Mutual of Omaha. They look forward to providing LTC solutions for years to come.

Regional OneAmerica Educational Roadshows

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OneAmerica® is taking its premier long-term care educational event and bringing it to a location near you!

This is a great opportunity to learn from our knowledgeable and experienced wholesalers, focused on helping you grow your business by adding or expanding your LTC practice.

Various times and dates are being offered nationwide through October!

REGISTER NOW

Questions? Contact Me:

Matt Anderson, President – Broadtower Insurance Solutions, Inc.
manderson@broadtowerinsurance.com
(949) 223-6140


NGL EssentialLTC – Important Washington State Update

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NGL is currently processing the influx of business created by the Washington State Cares Fund as efficiently as possible; however, due to the high volume of applications, it is recommended you submit Washington State applications on or before September 3, 2021. Applications submitted on or before this date will have a greater likelihood of being issued by November 1, 2021.

NGL will continue to accept and process business from Washington State after September 3, 2021, but those applications are less likely to be issued before November 1, 2021.

Updated Premium Minimum – Applications submitted for less than a $3,000 annual premium (or modal equivalent) will not be processed. Any application received in the home office after Friday, August 6, 2021, must meet the new minimum premium level or it will not be processed.

To further clarify what the $3,000 annual premium is equivalent to:

  • Modal Equivalents – $1,560 Semi-Annual Premium; $810 Quarterly Premium; $263 Monthly Premium.
  • The minimum annual premium for a joint application is $3,000 total, not $3,000 per applicant.
  • Single Premium policies will not be processed if the single premium is under $30,000.
  • 10-Year Pay policies are subject to the $6,000 annual premium minimum.

Commissions: There will be a full charge back of commissions for policies where the premium is not paid for the second year of coverage.

Underwriting: Applicants must have been seen by a physician in the last 24 months. NGL will not be ordering parameds in place of this.

Contracting: Washington is and will continue to be a pre-appointment state for NGL contracting purposes. Agents must be fully appointed prior to soliciting an application.

NGL wants to thank you for your business and collaboration as we all work through this together.

NGL EssentialLTC – New WA State Premium Minimum

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Due to the recent Washington Cares Fund, National Guardian Life Insurance Company (NGL) is experiencing a very high volume of low premium LTCi new business applications from Washington, many of which are less than one-third NGL’s average LTCi premium per policy.

NGL is taking steps to increase the likelihood applicants are purchasing LTCi protection for the long term.

NGL is instituting a new premium minimum in Washington state only:

  • Effective Wednesday, July 7, 2021, all WA applications must have a minimum annual premium of $2,000.
  • The other previously announced benefit minimums will no longer in be effect and will be replaced by the $2,000 annual premium minimum.
  • Please note, the minimum annual premium for a joint application is only $2,000 total, not $2,000 per applicant.

Any application below the $2,000 minimum will not be processed if received by NGL’s administrative office after July 6, 2021, regardless of application signature date.

This is a unique and fluid situation that may require future adjustments. Therefore, the illustration and E-APP systems will not be updated to restrict benefits below the minimums described above.

Reminders:

There will be a full charge back of commissions for policies where the premium is not paid for the second year of coverage.

Underwriting – If an applicant in Washington has not been seen by a physician in the last 24 months, they will be declined; a para-med will no longer be used in these situations.

Other considerations:

  • Submit Washington business as soon as possible. It’s quite possible that business submitted closer to November 1, 2021, will not get issued.
  • Washington is a pre-appointment state for contracting purposes. Agents must be fully appointed prior to soliciting an application.

These changes are only applicable to Washington applications and are only in place through November 1, 2021.

SUSPENDED IMMEDIATELY: Thrivent Long-Term Care Sales in WA

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SUSPENDED IMMEDIATELY: Thrivent long-term care sales in WA through independent agents/third party advisors.

As a leading long-term care insurance carrier, Thrivent has a responsibility to their contract holders and distribution partners to ensure that product offerings are being used in a manner consistent with their original intent to protect clients against the risk of long-term care expenses.

Effective 3 PM PDT / 5 PM CDT on 6/17/21, Thrivent suspended long-term care sales in the state of Washington through independent agents/third party advisors.

The details:

  • This cessation of long-term care sales is limited to the state of Washington and to independent agents/ 3rd party advisors.
  • Applications submitted on or before this cutoff date/time, will be processed as normal.
  • All pending in-house business will be processed as normal.
  • Any applications received after this cutoff date/time will not be accepted. No exceptions will be made.
  • eApp will error out if/when an advisor attempts to submit a long-term care application for a WA state resident.

Thrivent anticipates resuming long-term care sales through independent agents/third party advisors later this year.

Mutual of Omaha Announcement Regarding LTCi in WA

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Effective immediately, Mutual of Omaha is suspending long-term care sales in the state of Washington.

Here’s what you need to know:

  • Applications submitted on or before the end of the day June 16, 2021, will be processed as normal.
  • All pending in-house business will be processed as normal.
  • Any applications received June 17, 2021, and after will not be accepted. No exceptions will be made.

As a leading long-term care insurance provider, Mutual of Omaha has a responsibility to their policyholders and distribution partners to ensure their product offerings are used as designed, offering security and peace of mind to their valued customers.

Mutual of Omaha anticipates resuming sales in Washington once again in November 2021. Thank you for your continued business, partnership and commitment to Mutual of Omaha.