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.
Genworth Changes Oct 23, 2017
Genworth announced today that effective 11/20/2017 they will have only two LTC underwriting classes – Select and Standard. They currently operate under a 4 class system – Preferred Best, Preferred, Select and Standard, so this move eliminates their current best two classes of Preferred and Preferred Best. The removal of these two classes means higher rates for our clients going forward.
All Genworth applications signed and received before 11/20/17 will still have the 4 risk classes, so NOW is the time to take advantage and have your clients move forward with any pending proposals you have. Any proposal you have quoted at Preferred Best or Preferred will only be good through 11/20/17. All applications must be received in our office no later than Friday 11/17/17 in order to be eligible for Preferred Best or Preferred. The difference in pricing between Preferred and Standard is almost 20%, so be sure we are taking advantage of this for our clients while we can. Please read this announcement from Genworth, and be in touch for any assistance with proposals or applications. READ MORE
DI News Oct 16, 2017
In this issue NJLTC covers the latest Disability Insurance news and product changes. Principal has made significant changes to it's Buy Sell product, including a new "one way buyout feature", additionally full benefits to age 65 or 67. Take a look at the Principal Compensation Grid, many of you are poised to move up to a higher compensation level in both first-year commission revenue, and renewals. NJLTC will be reaching out to each of you to discuss this change and how it may impact you. READ MORE
LTC Industry News Oct 13, 2017
LTC, LTC, LTC....Whatever your personal opinion on the industry, the need is not going away. Long Term Care is a critical need that this country has to address in the coming years as the "baby boom" generation marches in to the 60+ age segment. It is difficult not to be able to make a clear case for all the need for Long Term Care coverage after reviewing the following information: