Featured News

“Effective immediately, we are suspending all new sales of our current Multi-life LTC offering in all states. This includes any new hires and other additions to existing groups. While this move comes sooner than we previously announced, the decision was made after careful consideration of stronger than anticipated Multi-life LTC sales in the third quarter.

We continue to work diligently on filing our next-generation LTC product with the Interstate Compact, as well as with other states. Avoiding an extended disruption of our LTC availability remains a top priority. We expect our new worksite LTC offering to become available in early 2018.

Thank you for your business and your continued support of LifeSecure. Please don’t hesitate to contact our Agent Support Care Line at 866.582.7701 if you have any questions.”

LifeSecure Insurance Company

According to a recent Nationwide survey, 80% of the American population over the age of 50 are worried how an extended health event will affect their retirement savings.  Study after study suggests that Americans are starving for knowledge and assistance when it comes to putting a Long Term Care plan in place, but are unsure where to obtain information and planning strategies.

It’s estimated that 9 out of 10 financial advisors don’t discuss Long Term Care planning with their clients due to concerns about:

• Underwriting Declines
• Past Rate Increases
• Lack of Knowledge or Experience
• Expensive Cost

Today’s Long Term Care market is well equipped to finally address the concerns of many advisors, and OneAmerica is positioned to overcome the top advisor objections to Long Term Care Insurance.

• Learn more about Asset-Based LTC – OneAmerica’s extensive and educational overview of LTC will help you get up to speed
• The LTC Toolbox has all the current OneAmerica marketing campaign materials at your fingertips
• Get an instant quote with the OneAmerica Care Solutions Calculator

Contact your LTC Sales & Marketing Associate to learn more about how to protect your clients from the future cost of care.

“I have always been impressed by the single minded purpose and passion of our dwindling cadre of LTCI specialists. To my knowledge no one has stayed as laser focused and dedicated to basic reason, sometimes painful truths and necessary reform of the long term care financing conundrum as Stephen A. Moses, president of the Center for Long Term Care Reform. He has recently released a report for The Foundation for Government Accountability titled How to Fix Long-Term Care Financing.

Stephen’s message is, as usual, well documented, and his conclusions about the cause and effect of the poorly crafted, deservedly maligned and strategically counter-productive Medicaid federal boondoggle are “spot on.” This definitive analysis should be required reading for all those involved in the struggle to fix a system that is clearly broken. It has often been concluded in this column that there are no easy answers, no single strategy to turn around a system that clearly rewards bad behavior and inadvertently reduces the quality of care that should be its core mission. Stephen has convinced me that…”

Click here to read more, originally published in the October 2017 edition of Broker World Magazine.

by Broadtower Member Chris Orestis, Executive Vice President of GWG Life and Founder of Life Care Funding

“In observance of Life Insurance Awareness Month, it is important for policy owners to be aware of the life insurance asset that they own.

Life insurance policies are one of the most misunderstood and undervalued assets a person will ever own. And make no mistake, a life insurance policy is legally recognized as an asset with personal property ownership rights. Think of a life insurance policy the same way you would your home. You make mortgage payments on a monthly basis. Would you one day just drop your keys in the driveway and abandon your home? Of course not. You would sell your property for its highest market value. A life insurance policy is no different. After years of making premium payments, why would the owner abandon this other property without obtaining its full market value?

Life insurance policies have a hidden value that the vast majority of owners are unaware is readily accessible.

Seniors in particular are most at risk to lapse or surrender their life insurance policies. In fact, Conning and Company projects that over the next 10 years as much as $185 billion…”

Click here to read more, originally published September 12, 2017 on InsuranceNews.net.

“Making the point is of course the mission of this column. I’m sure some would suggest I’ve simply kept attempting to make  the same point over and over without sympathy, empathy or remorse for my similarly unrepentant long term care friends that read this column. Therefore one more time:

• The point remains we are facing a worldwide financial crisis of our own making. I take small doses of my blood pressure medications every eight hours because it’s a “maintenance” program—one among many that extends and maintains the longevity of individuals in each and every industrialized nation on this planet. None of us was in any way prepared for an aging population with numerically insufficient working adults to support the cost (or an adequate supply of caregivers) to provide the basic required services.”

Click here to read more, originally published in the September 2017 edition of Broker World Magazine.

Join Mutual of Omaha for their LTC Webinar Series: Competitive Niches.

Wednesday, August 23 | 2 pm CT
REGISTER FOR EVENT

Have you ever wondered what LTCi products and features are sold most often? Join Mutual of Omaha to learn how their products are designed to provide the flexibility your customers expect.

You can register for the webinar, add it to your calendar or both. On the day of the webinar, simply click the link from the confirmation email or calendar entry. There is no number to dial, just listen through your laptop or PC speakers or headphones.

Add to calendar: Outlook | Gmail | Apple | Yahoo

© 2017 Mutual of Omaha Insurance Company. All rights reserved.
3300 Mutual of Omaha Plaza  |  Omaha, NE 68175

For producer use only. Not for use with the general public.

How to have your cake and eat it too.

Clients today are looking for solutions with the flexibility to handle multiple financial needs in a variety of potential scenarios.  A common complaint about Long Term Care is many clients feel the likelihood they should have an extended health care event is zero.  Traditional Long Term Care insurance is protection designed to protect against a singular event- a long term care event.  If your client can’t envision a world where they should need assistance, the idea of purchasing protection for an event that will never happen seems useless and wasteful.

Instead of trying to persuade the client to purchase what they view as unnecessary protection, why not propose a plan that offers additional layers of protection for scenarios that they do view as likely.

Asset Based LTCi is designed to help protect your clients from an extended health care event, but maintains enough flexibility to provide value if the client was correct, and they never use the LTC benefits.  It’s designed to protect your clients’ assets by using the safety of whole life insurance.  With a guaranteed premium, your clients will receive a guaranteed amount of life insurance that can be applied to their LTCi expenses.  Your premium is also credited with a minimum guaranteed interest rate, meaning your cash value is guaranteed to grow each month.  If your clients grow tired of the product, they have the option to request a full return of premium, thus providing an increased level of flexibility that many clients are seeking.

One carrier in particular has taken this idea of flexibility and worked to re-envision the LTC world as we know it.  Almost as if they gathered all of the Long Term Care experts together in a room and asked- what can we do to design the perfect, most flexible product for you the advisor but still work to protect your clients?  Here’s what they came up with:

1. Unlimited Long Term Care Benefits that can never be exhausted
2. Guaranteed, Non-Cancelable premiums that can never be altered
3. Payment Flexibility- lumpsum, 10 to 20-pays, pay for life, or a combination of lumpsum and annual payments
4. Primarily focused on Long Term Care, but offers return of premium and death benefit for those without a LTC need.
5. The potential to convert tax deferred growth to tax free income when used for Long Term Care
6. A separate solution for health impaired clients that allows those declined for coverage an alternative pivot solution with reduced benefits
7. Joint case design allowing spouses, business partners, siblings, and even parents and children to take advantage of the reduced costs associated with joint policies
8. Flexible funding source- Cash, Annuities, 1035 Life Insurance, and Qualified Money
9. A carrier willing to partner with advisors to offer marketing dollars and ideas to help advisors incorporate Long Term Care planning into their practice

These policies can help your clients prepare for a long term care event if needed, or leave a legacy to their beneficiaries all within one single policy.  To learn how to show your clients how to position themselves in the re-envisioned Long Term Care World, please contact me today.

Matt Anderson, Broadtower President
949.225.7142
manderson@broadtowerinsurance.com 

To LifeSecure Agents and Distribution Partners,

Effective December 1, 2017, LifeSecure is closing all new sales of our current Multi-life LTC offering in all states.

This follows their recent announcement to discontinue new case setups for our current Multi-life LTC product, with exceptions for MGAs that were given LTC sales quotas. Please note: this decision includes any new hires and other additions to existing groups, as well as all MGAs that were included under our previous exception.

**All active employer groups will also receive an email notification on Monday, Aug. 14, to make them aware of this change. Click here to view a sample of the employer group notification.**

“All of us at LifeSecure continue to work diligently on filing our next-generation LTC product with the Interstate Compact, as well as with other states. Avoiding an extended disruption of our LTC availability remains a top priority. We expect our new LTC offering to become available in Q1 2018.

Worksite solutions will continue to be a strong focus across our whole product portfolio, which includes our continued commitment to the long term care insurance industry. As we continue focusing additional energies in growing the sales of our ancillary health products and diversifying our offerings, we are excited about the new products that we are bringing to market and for what the future holds.

Thank you for your business and your continued support of LifeSecure. Your partnership is important to us and we look forward to sharing future announcements and opportunities with you. Please don’t hesitate to contact our Agent Support Care Line at 866.582.7701 if you have any questions.”

Brian Vestergaard
Vice President, Sales & Marketing

Cindy Harris
Senior Director, Sales

Linda Fabian
Director, National Accounts