NJLTC Marketplace

Blasts & News

There are many changes taking place in the Long Term Care and Disability Insurance industries these days. The information comes from many different sources, and it can be quite confusing at times to put all the pieces together and make sense of it all. At NJLTC we send out several email newsletters , "Blasts" as we call them, a month. We keep our clients, brokers, and producers informed of all the relevant news, topics, and product updates that take place in our industry. Feel free to browse our archive of Blasts and News articles.

February News Feb 8, 2019

February is here...real cold, but break out the shorts later this week...The information seems to come in everyday. This blast will update you on the following:

Securian Hybrid - 100% true cash indemnity plan! The main differences between the 2017 and 2018 SecureCare policies are as follows:

2017 SecureCare will have a higher death benefit and cash value than the 2018 SecureCare policy. This is because charges are taken out throughout the life of the 2017 policy, thus maintaining a higher internal cash value, which results in a higher death benefit to maintain the definition of life insurance. The 2018 SecureCare policy takes out all the charges right when the premium is paid. This allows the LTC portions of the premium to be potentially tax deductible.

2017 SecureCare requires a monthly proof of loss form to be completed while the insured is on claim. The monthly proof of loss form asks for proof of either $1 qualified expenses, or a summary of informal care that is being provided. The 2018 SecureCare is pure indemnity, which requires no monthly proof of loss form.

2017 Secure Care does not allow the insured to take less than their monthly LTC max if there's an inflation option. The 2018 SecureCare allows the insured to take less than their LTC max, even if there's an inflation option.

2017 SecureCare offers a reimbursement international benefit. The 2018 SecureCare offers a cash indemnity international benefit

Responding to the Securian / Minnesota Life Hybrid challenge - Lincoln Moneyguard reduces rates on MGII

National Guardian Life - Essential LTC's employer rate class will launch in 38 states

Genworth release - 4Q 2018 Highlights

January News Jan 28, 2019

As we move to the end of January, NJLTC would like to continue our industry updates on both the Long-Term Care and Disability Income fronts. With the re-entry of Mass Mutual individual LTC product, Securian's hybrid cash offering, and the approval of the Genworth / China Oceanwide merger, this certainly is a string of positive developments for the Long-Term Care industry. Please find the following information in the blast:

Headfirst Into 2019 Jan 23, 2019

In this edition of our NJLTC blast we touch on a broad range of topics, from the developments with the Genworth - China Oceanwide merger, to the new disability announcements from several of the industry leaders. We have also included several articles to help your sales efforts as we go headlong into 2019. Thanks always for your support and enjoy the following:

Guardian announces change to class and product for general dentists.
Genworth merger continues towards closure, both NY and Virginia approved the merger this month.
Securian hybrid LTC product approved in NJ for both 10-pay and lump sum models.
Article: "What to say now about LTC rate increases"
Article: "Nine ways to respond to Let me think about it"
Article: "People still need a way to pay for Long-Term Care: Idea file"

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