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.

Important LTC Industry News Mar 9, 2019

Please call your rep at NJLTC with any questions you may have.

Suspension of All Individual Long Term Care Insurance and Income Assurance Annuity Sales Through the BGA Channel Effective March 11, 2019

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

Read the entire bulletin here READ MORE

More February LTC News Feb 19, 2019

A few further Long Term Care items we would like to share with you here as February marches on -

Please find a 2019 Tax Summary guide for LTC. This guide is provided to us from National Guardian, and does a terrific job of laying out all deductions and 1035 exchange rules. A perfect piece to use when selling LTC to your business owner clients.

Also, this information about TransElite, TransAmerica's GUL product that features LTC benefits. READ MORE

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

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