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 Update Oct 12, 2017
The Genworth / China Oceanwide merger remains the LTC industry's most important story of 2017. In this issue we have included several articles updating the progress of this critical transaction. The largest block of LTC business in our country, the future of traditional LTC, and quite possibly, the #1 health care crisis facing aging adults are directly impacted by this merger. Anyone who owns, sells, or is thinking of purchasing LTC should read the following items:
Deadline News Sep 11, 2017
TransAmerica new LTC rates will go in to effect in NY this Friday, September 15. NJLTC has been keeping you abreast of these rate developments and changes as they have been rolling out. New rates for both NY and NJ have been approved by both states. TransAmerica announced this past Friday, Spetember 8, that the NY rates will be active this week, read it here. The new rates are 40% - 50% higher, this illustration shows what the new rates will look like. READ MORE
LTC & DI Marketplace Update Sep 5, 2017
A common LTC question that we run into is, “will this plan pay internationally?”. Some of the older policies used to offer fairly robust benefits, however now most of the traditional LTC carriers offer very limited benefits (usually 50% of one year), if they offer any benefit at all. However, there is still an option for clients who think they may end up outside of the US when it comes time for care. Nationwide’s Care Matters policy will cover international benefits on an indemnity basis – IF the policy is properly structured. Care Matters is traditionally a single premium LTC Hybrid policy, but also offers 5 and 10 pay flexible options as well. If you have a client who plans to be (or at least wants to be covered) abroad when receiving care, let us know and we can walk you through how the benefits will work! READ MORE