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.
Moving in to May May 4, 2020
As we wrap up April NJLTC felt it was important to bring you up to date on the many underwriting changes around the Covid-19 virus situation.
Almost all companies have responded in some way to either limiting underwriting or in some cases liberalizing what you can purchase without medicals. Also in here you will see information from the states of NY and NJ around grace period premium extensions. There are also similar extensions from the carriers themselves if you qualify. At NJLTC we all hope that you remain safe and your families are well. Appreciate your business and although many of us are working from home it is business as usual at NJLTC…….Thanks so much for your support in these difficult times.
April Industry News Apr 17, 2020
Hope this email finds everyone well.
In this uncertain time, we are unsure of what the future brings for the life insurance market. We can say with some certainly that some degree of change will come out of all of this.
With that said, this blast will focus on Nationwide and Securian, the two carriers in the marketplace who have cash indemnity LTC/Life policies, and the various tax advantages that can be applied to their policies. Please find this information about the tax advantages of Nationwide’s CareMatters II policy (not available in NY, NY is still the regular CareMatters and that product unfortunately lacks some of these tax advantages).
Also find this information on Securian’s policy and their ability to use HAS dollars to fund a hybrid plan.
Mutual Of Omaha Update Apr 16, 2020
Effective Thursday, April 16,2020, Mutual of Omaha is implementing a temporary change. Due to the requirement for a face-to-face assessment, Mutual of Omaha will not be accepting LTC applications for individuals age 65 and older. All LTC cases not already approved or issued on applicants 65 and older will be postponed and processed as an incomplete application.
Mutual of Omaha will continue to take applications on applicants 64 and younger.
CLICK HERE for the full announcement, which contains important reminders previously released.
Throughout the evolving situation, we will keep you up to date on changes that may impact your business as a result of the pandemic. READ MORE