Carrier Updates

Cash indemnity LTC benefits with the guarantees of a UL policy.

Nationwide has launched a new linked-benefit LTC life insurance product, Nationwide CareMatters® II.

CareMatters II is a flexible, competitively-priced linked-benefit universal life policy that offers clients:

• Flexibility through cash indemnity LTC benefits that help clients obtain care where and from whom they prefer
• Choice of a variety of payment options, including pay to Attained Age 100, make the policy accessible to more clients than ever before
• Protection from inflation via one of several options, including a 3% compound option and a new U.S. Medical Care Inflation option based on changes in the cost of health care

Nationwide CareMatters II is designed to help bring the protection of a linked-benefit policy to a wider range of clients across a variety of ages and financial situations.

Get to know Nationwide CareMatters® II

Here is a side-by-side comparison with YourLife CareMatters to allow you to compare the new features. Download Comparison Highlights

For questions or to learn more about the benefits of Nationwide CareMatters II, contact us.

A note from the desk of Brent DeGroot, Brokerage Health Sales Director for Mutual of Omaha.

Good Day!

The marketplace for extended care coverage has expanded in recent years with the entry of various products, especially on the Life side. While each client and their agent/advisor need to determine the solution which is right for them, I want to point out some of the benefits of a stand-alone LTCi policy and what a wonderful investment it can be.

I have included here a copy of our marketing piece which discusses the benefits of Stand-alone LTCi – comprehensive coverage, tax benefits, and state partnership protection; just to name a few.

Also, the return on investment for a traditional LTC policy can be quite impressive. Below are a couple of examples from the Break Even Analysis feature which is included in our MutualCare Solutions software. Rates used were for Nebraska.

Example #1 – A single female age 65 when purchasing coverage of $5,000 a month with a 4 year benefit period and 3% inflation for 20 years. If she went on claim at age 75, it would take just 226 days for her to be paid back the premium paid in.

Example #2 – A married male age 55 when purchasing the same coverage and going on claim at age 75, would receive all premiums back in benefits in only 112 days.

Both clients then have the potential to receive hundreds of thousands of dollars in benefits above what they have paid in. A great return on their initial investment. Not to mention piece of mind knowing they are covered, and the tremendous help this coverage can be by not creating hardships to the family dynamic.

Please consider the many benefits of traditional LTC when meeting with your clients. The benefits are many and the investment return can be great.

Brent DeGroot, LTCP, CLTC
Brokerage Health Sales Director – LTCi, Mutual of Omaha
(402) 351-6012
Brent.DeGroot@mutualofomaha.com

Same Great LTC Product Now Looks Even Better!

Long-term care upgraded its marketing materials with a fresh, new look. This includes new Product and Underwriting Guides! No longer combined into one document, the new LTC Product and Underwriting Guides are two standalone booklets.

See what else is new –>

(Please discontinue use of old materials and order through your normal ordering channels.)

LTC Underwriting Teleconference – April 18th

We’re kicking off a bi-monthly New Business teleconference series and you’re invited!

In our first teleconference, we will be introducing our underwriting leaders, discussing the new Underwriting Guide, and concluding with an interactive Q&A session.

“Underwriting Operation: Kick-Off” Teleconference #1
When: Thursday, April 18 | 10 a.m. CT
Conference Number: 1-866-220-3018
Conference ID: 1080585

2019 Teleconference Schedule –>

VOLUME 13 * ISSUE 7 * APRIL 2019

Sales Tip: 3 Ideas to Level the Playing Field

Competing with larger rivals is a daily challenge for your small business clients. Check out these tips to turn small employers into big prospects.

Hospital Recovery Insurance with Observation Coverage

On April 25, LifeSecure will release their enhanced Hospital Recovery Insurance with Observation Coverage to the individual and worksite markets in 20 states. Click here for state availability and product details.

Below are important dates regarding LifeSecure’s current Hospital Recovery Insurance product. Please note: this information only applies to the 20 states where Hospital Recovery Insurance with Observation Coverage will be available.

Now Available: Request a custom worksite proposal for up to three plan designs. Contact their Worksite Sales team, Cori Mooberry and Sue Root, for details.

April 17: Worksite – last day to submit applications for LifeSecure’s current Hospital Recovery Insurance. Enrollment periods must end on or before April 17 at 5 p.m. ET.

April 24: Individual – last day to submit applications for LifeSecure’s current Hospital Recovery Insurance. Applications myst be submitted online before 5 p.m. ET

April 25: Individual & Worksite – first day to take and submit an application for the new Hospital Recovery Insurance with Observation Coverage, beginning Thursday morning.

Put a Spring in Your Sales and Boost Your Earnings

This spring, you can earn an Amazon gift card of up to $500 on your LifeSecure Accident, Critical Illness and Hospital Recovery insurance sales – in addition to your commissions!

Earn $50 when you sell five policies, an extra $100 for your 10th policy, $150 more for your 15th policy, and another $200 for your 20th policy. That’s $500 for selling 20 total policies.

Policies must be submitted and issued between April 1, 2019 and May 31, 2019. Click here for full terms and conditions.

Talk to Your Clients About Critical Illness Insurance

Do your clients know about the advantages of Critical Illness insurance? If not, it may be time to talk to them about this increasingly in-demand coverage.

Use this educational flyer to help give a quick introduction to the importance of coverage, product features and flexibility, and the variety of ways benefits can be used to offset expenses. You can even customize page 2 of the flyer with your name and contact information.

Start a conversation about Critical Illness insurance with your clients today and show them how it can help protect their family, lifestyle, and finances.

Office Closed April 19

LifeSecure’s home office will be closed on Friday, April 19, in observance of Good Friday. All departments will reopen on Monday, April 22, at 8 a.m. ET.

Click here to view their calendar of modified office hours.

How Does LifeSecure’s Accident Benefit Work?

Let LifeSecure show you how with their benefit payout example flyer, which you can share with your clients.

It details a sample scenario from an accidental injury and treatment to a cash benefit payout that offsets out-of-pocket costs. Click here to check it out.

LifeSecure’s Accident coverage pays cash benefits based on actual medical expenses for covered injuries, regardless of any other insurance. Other advantages include:

• Reimbursement model with payouts that are typically higher than scheduled benefits
• 24/7 benefits – on-the-job and off-the-job coverage
• Flexible coverage that’s a great fit for families with young and active children

Upcoming Webinars

• Wednesday, April 10, 2019: Worksite Solutions – LifeSecure’s Long Term Care Insurance at 11 AM ET
• Thursday, May 2, 2019: Accident Insurance Overview at 1 PM ET

Simply click the links to register!
A full schedule can be found on the Agent Blog.

LifeSecure Agent Support
866-582-7701
agentsupport@yourlifesecure.com

Important Phone Numbers
Conferences
Webinars
Products & Simple Rates
Producer Advertising Guidelines
Product Availability

Effective as of Monday, March 11, 2019, Genworth has temporarily suspended sales of individual long term care insurance and the Income Assurance annuity through the BGA channel in all states. They will continue to sell these products through other channels.

Effective as of Monday, March 11, 2019, the Genworth companies will no longer accept new applications from the BGA channel for our individual long term care insurance or annuity products, including:

• Privileged Choice® Flex
• Privileged Choice® Flex 2
• Privileged Choice® Flex 3
• Privileged Choice® Flex 3 – Element
• Income Assurance Immediate Need Annuity

This change does not affect the following:

• Renewal commissions for in-force business
• Pending business or related compensation
• In-force policyholder servicing
• In-force policy contractual provisions and benefits such as conversion rights

Existing customers and their benefits will not be impacted by this change, and Genworth’s commitment to them remains as strong as ever.

Transition Rules for New Applications and Pending Business Through the BGA Channel

Electronic Tools
03/08/2019 – Last day to submit an eApplication (eSuite of New Business tools)

Quote it!
03/08/2019 – Last day to quote individual long term care and Income Assurance annuity products

Applications
03/08/2019 – Last valid Application Signed Date
03/11/2019 – Last valid Home Office Receipt Date for applications, must be received by 8:00pm ET

Faxed applications must be sent to either: 434 948.5566 or 800 456.8329. Applications may be emailed to EMM-GNWLTCApps@genworth.com.

Note: Applications faxed or emailed to any fax number or email address other than those listed above may not make the 8:00pm ET cutoff.

Pending Business
04/12/2019 – Last day to receive pending new business requirements
05/31/2019 – Last day to place pending new business in-force
05/31/2019 – Pending applications closed that have not been issued in-force

If you have application questions during the transition period, please contact your Genworth New Business Team representative.

A note from the desk of Steve Pike, National Sales Director, with Mutual of Omaha.

Effective March 1, 2019 the maximum issue age for Long-Term Care products in the state of New York is age 75. Any application receive on or after March 1, 2019, with the client over the age of 75, will be ineligible for coverage.

Mutual of Omaha’s Long-Term Care portfolio is very competitive with product pricing, built-in benefits and optional features, enabling you to easily tailor a plan which protects your client’s financial future.

Please reach out to your sales team should you have any questions or to learn more about our Long-Term Care product portfolio.

Steve Pike, National Sales Director
(952) 239-9856 | Contact Me

A note from the desk of James Romero, CLTC, Regional Sales Director – Linked Benefits with Securian.

I wanted to reach out and introduce myself as your dedicated external sales contact at Securian Financial representing the SecureCare Hybrid LTC plan.

Partnering with me for internal sales support will be Lisa Speelman. Lisa and I are excited to be working with you and look forward to assisting you with your SecureCare sales.

We are in the process of reaching out to all of our assigned accounts but in the meantime we are going to be hosting a series of webinars to help get the word out.

Please see the below webinar invite URLs and the various options for dates and times. This short webinar will be an introduction for myself and Lisa and we will go over the Win-Win-Win highlights that make SecureCare stand out in the LTC Industry.

James Romero, CLTC
Regional Sales Director – Linked Benefits
james.romero@securian.com

Meet your dedicated SecureCare support team and learn the key highlights that make SecureCare stand out in the industry.

• Register for Thursday, February 28th, 10.30 AM CST
• Register for Thursday, February 28th, 1.00 PM CST
• Register for Friday, March 1st, 11.00 AM CST
• Register for Friday, March 1st, 1.00 PM CST

NGL’s LTCi program for the worksite will continue to focus on small to mid-sized businesses, offering low minimum participation requirements of 2 to 5 issued employees, varying by state.

Employer and Association Groups will no longer be available in Maine.

View the detailed announcement for additional information. Detailed Announcement

 

Product Features & Sales Ideas
Learn more about EssentialLTC’s most popular product features and corresponding sales ideas. View PDF

2019 Tax Summary
Use this flyer to see the tax advantages of LTCi for individuals and businesses. View PDF

LTCi For Almost Any Business
Learn more about EssentialLTC’s program for the worksite. View PDF

Worksite Process & Resources
Learn more about what to expect when you have an employer group prospect. This flyer will give you an idea of what to expect from start to finish and provides you with resources to help guide you through the process. View PDF

NEW! Group Quote Request Form

Use this form to let NGL know the plan design(s) you want quoted and the census information for your employer or association group prospects. View Form (For agent and broker use only. Not for distribution to the public)

LTCi Sales Psychology

Join NGL for the first episode of the Inspired by LTCi Specialists webinar series with their special guest speaker Steve Elliott.

Steve will share his 23 years of LTCi experience to help you close more prospects on the first call, increase your closing percentage, shorten your presentation, and increase your placed business.

Learning these LTCi sales psychology tips is something you don’t want to miss! Reserve Your Spot (For agent and broker use only. Not for distribution to the public)

ILTCI Conference

Come join the ILTCI Conference for powerful discussions lead by only the most influential and experienced industry experts across a variety of disciplines. You’ll learn firsthand everything you need to know about a variety of topics, from finance, to claims, marketing, public policy, and so much more. Register Now

Easily Distribute & Share EssentialLTC Updates

You can now use the link at the top of each EssentialLTC eNewsletter to easily share EssentialLTC emails with your colleagues. You can also keep up to date by bookmarking their Updates Page

Now Playing: Live Webinars

From their office to your desktop, LifeSecure’s free webinars bring all the training you need right to you. They offer a variety of live sessions to help boost your business – everything from product basics to the finer points of selling with LifeSecure.

Register today for the webinar of your choice!

Jan 8: Get Acquainted with LifeSecure
Jan 9: LTC Worksite Solutions
Jan 10: Critical Illness Insurance Overview
Jan 15: Worksite Solutions: LifeSecure’s Ancillary Products
Jan 17: Accident Insurance Overview
Jan 22: Hospital Recovery Insurance Overview
Jan 24: Get Acquainted with LifeSecure
Jan 29: Critical Illness Insurance Overview
Jan 31: Review of the Online Quote Calculator & Application Process

You can also check out full webinar schedule here.

To join any webinar via phone, call 888-557-8511 and use the following code: 8659663.

A note from the desk of Shawn Davis, Head of Individual Sales US Life Insurance Companies at Genworth.

As we enter 2019, we are continuing our efforts in developing a market for the Income Assurance Immediate Need Annuity (INA) product. INA is a medically underwritten single premium immediate annuity issued by Genworth Life Insurance Company (Genworth Life.) Over the past 3 years, we have not been able to develop this market through the Brokerage General Agency (BGA) channel. Many efforts were made by our wholesaling team partnering with BGAs to drive sales. Unfortunately, this didn’t generate enough traction for us to continue with this model as part of our 2019 strategy.

In 2019, we are going to deploy a different distribution strategy that affects our BGA model. Beginning December 3, 2018, we will only offer INA as a producer direct opportunity, specifically meaning any producer wanting to offer INA to their clients will need to be contracted directly with Genworth Life. We are making this change to offer producers a higher commission rate of 5% to sell the product. We will notify all producers engaged in the marketing and selling of INA of this change. Any business submitted prior to November 30, 2018 under your BGA hierarchy will be attributed to you in that structure. After this date, the producer will need to have a direct relationship with Genworth Life for INA, and you will not receive compensation.

I realize this change in distribution strategy has an impact on our BGA partners. Please know the decision was not made lightly and is based in part on the feedback we have received that the current compensation structure is not properly aligned given the duration and complexity of the sales process for this product. We believe this is the right decision to make at this time and will help to accelerate the market opportunity for this product.

Thank you in advance for your understanding and support.