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Prudential LTCI News: (AZ, UT) ILTC1 & LTC By Design Rate Increase; (ME) Partnership Notifications Being Sent

May 17, 2012

(AZ) Policyholders to be Notified of ILTC1 Premium Rate Increase 

Prudential Long-Term Care had announced earlier last year its intent to file with state insurance regulators for a premium rate increase on ILTC1 long-term care insurance policies, its first generation product. Responses were recently received from the state of Arizona, permitting implementation of the change in premium.

At this time, we want you to be aware that we are preparing to mail notification letters to affected policyholders in the state of Arizona on Tuesday, May 29, 2012. Copies of the letters will be sent to producers two days prior to the policyholder mailings. You are not required to take any action, but may do so at your discretion. The letter will include the new premium amount that will become effective on the next billing date following the effective date of Wednesday, August 1, 2012.  

ILTC1 Premium Rate Increase

(AZ, UT) Policyholders to be Notified of LTC By Design Premium Rate Increase

Prudential Long-Term Care had announced earlier last year its intent to file with state insurance regulators for a premium rate increase on LTC By DesignSM long-term care insurance policies, its second generation product. Responses were recently received from the state of Arizona, permitting implementation of the change in premium.

At this time, we want you to be aware that we are preparing to mail notification letters to affected policyholders in the state of Arizona. Copies of the letters will be sent to producers two days prior to the policyholder mailings on Tuesday, May 29, 2012. You are not required to take any action, but may do so at your discretion. The letter will include the new premium amount that will become effective on the next billing date following the effective date of Wednesday, August 1, 2012.

LTC By Design Premium Rate Increase

(ME) Eligible Policyholders to Receive Partnership Notification

Prudential Long-Term Care had announced last year its intent to file with state insurance regulators for a premium rate increase on LTC By DesignSM long-term care insurance policies, its second generation product. Responses were recently received from the states of Arizona and Utah, permitting implementation of the change in premium.

At this time, we want you to be aware that we are preparing to mail notification letters to affected policyholders in the states of Arizona and Utah on Tuesday, May 29, 2012. Copies of the letters will be sent to producers two days prior to the policyholder mailings. You are not required to take any action, but may do so at your discretion. The letter will include the new premium amount that will become effective on the next billing date following the effective date of Wednesday, August 1, 2012. Click below to see the full communication. 

Maine Partnership Notification

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Mutual of Omaha: Express for 5/9/12

Correction to notification on exchange letters for LTCi policyholders in Washington. On February 22, 2012, an incorrect end date was communicated on those LTCi policyholders in Washington that my receive a full exchange offer letter. The indicated policyholders would have purchased their policies in Washington from February 8, 2006 through December 31, 2011. Please refer to original field communication for full details. View Details

New licensing and continuing education service for the Pennsylvania Insurance Department. The Pennsylvania Insurance Department has gone to a new service for renewing and managing your license and continuing education requirements. View Details

LivingCare Annuity:  Mandatory Anti-Money Laundering (AML) Training. Don’t hold up new business issue; complete the course today. As required by federal regulation, all producers writing permanent life or annuity products must complete the AML training by June 30, 2012. View Details, LIMRA AML Training Site

 

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Transamerica 5/3/12: Commision Statements Going Online in May

Reminder: Commission Statements Going Online in May

COMING SOON: Your commission statements will be available online on the Agent Resource Center (ARC).

If others on your team are currently using your password, you need to provide them with their own ID and password as soon as possible.  You can do this through the Manage My Office functionality on ARC.

To set up IDs for those in your office:

  • Log in to the Agent Resource Center  
  • Select the My Profile link
  • Click on the Manage My Office tab
  • Enter your administrative support team’s information and limitations and the system will automatically generate an email to them with their new ID and password. 

New Quick Consumer Brochure

The TransCare® II Consumer Product Brochure is great to educate your client about LTC, the risks surrounding it, the TransCare® II product and how it can help, but sometimes you need something more abbreviated. The Quick Consumer Brochure (QPBR) does exactly that.

The QPBR quickly and easily gives the consumer an abbreviated description of standard features and optional benefit choices. It provides your client with the most important TransCare® II policy details in a compact format. 

The QPBR is currently available in:

AK, AL, CO, GA, IA, ID, IL, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, NC, NE, NH, NM, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, VT, WA, WI, WV, WY

Long Term Care insurance sales are easy when you have the right tools and Transamerica Long Term Care is committed to providing them for you. Order the QPBR for your state at the Agent Resource Center.

TransCare® Enhanced on TransBuilder

You can now create co-branded TransCare® Enhanced materials with TransBuilder. TransBuilder allows you to seamlessly embed your name and agency logo in Transamerica Long Term Care marketing materials and puts the power of the Transamerica brand in your hands.

TransCare® Enhanced is currently available in: CA

It’s easy to get started with TransBuilder:

  • Log on to the Agent Resource Center
  • Select “Order Materials”
  • Click on TransBuilder at the top of the page
  • You can then use the search function to easily navigate through Transamerica Long Term Care materials in order to find the documents you would like to start co-branding. If you have any questions, the TransBuilder Help Guide is also available on the TransBuilder Page.

Please note: TransBuilder is only available to agents/producers with full access to the Agent Resource Center. It is not available to agents/producers with “view only” limitations.

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John Hancock Newslink for 5/4/12: Tools to educate clients on CPI inflation

MARKETING NEWS

April 12 for 12 campaign
Find out the latest consumer views on long-term care planning and the value of proactively initiating LTC discussions with your clients. Click here to read the April edition.

CPI Compound Inflation Protection – Tools to help educate you and your clients
Check out the library of producer support and training materials available to help you learn about CPI Compound Inflation. A consumer brochure is also available to help educate your clients on the value of CPI inflation coverage and why it’s a smart approach to growing LTC insurance benefits.

Responsible leader backed by a powerful brand
When you’re talking to your clients about their LTC needs and the role LTC insurance can play in their overall financial plan, you can recommend John Hancock with confidence.

Order the 2012 Tax Guide and other support material
Be sure to get the latest version of our tax materials, including the 2012 tax guide
(GFR-TX-1/12) and state LTC insurance tax incentive flier (LTC-1199 1/12).

COMPLIANCE NEWS

Kansas bulletin on advertising to third parties released
The Kansas Department of Insurance recently issued Bulletin 2012-1, reminding all insurers and appointed producers of their responsibility for the content of advertisements distributed to the public. Read this article to learn more.  Click here to read Bulletin 2012-1.

Virginia administrative letter on Model Privacy Notices
The Virginia Bureau of Insurance requires that producers be made aware of an administrative letter regarding Privacy Notices. Read this article for more information.  To read the complete administrative letter, click here

COMMISSIONS NEWS

Get paid via direct deposit
Direct deposit as a commissions payment option is available for those who are paid directly. To initiate direct deposit, please complete and return the “Authorization for Direct Deposit for Commission Payment,” Form: LTC-1082.

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Mutual of Omaha: 4/25/12 Call replay available; AR approves rate adjustment on in-force business

Listen to the April Teleconference on “Finding the Right Words” presented by Brent DeGroot: Visit the Long Term care page on Sales Professional Access (SPA), click on the link for Teleconference Archive. Here you can listen to current and past Teleconference Presentations. Teleconference Link

Three Ways to Get People Talking. Ask your clients these three simple questions to get them thinking about long-term planning. View Questions

Arkansas has approved the LTCi rate adjustment on in-force business. On July 1, 2012, we will begin implementation of the LTCi rate adjustment on in-force business in Arkansas. For a complete list of approved states and additional information on the LTCi rate adjustment, visit the designated LTCi rate adjustment page on Sales Professional Access. SPA Link

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John Hancock Newslink for 4/20/12: Using fillable applications to make business easier

MARKETING NEWS

April installment of the 12 FOR 12 campaign coming next week!
The campaign focuses on providing you with a value-added idea each month to help build your long–term care insurance business. Keep an eye on your inbox!

Start using fillable applications to make doing business easier
Our brief video and tutorial show you how using fillable applications can make the process of completing and submitting an application easier. The video is followed by a step-by-step tutorial on completing an application from your desktop.  Watch the video and tutorial, LTC-8717.  Review instructions, LTC-8719

Third-party tools are a powerful way to engage clients and prospects
Read this article to learn more about how to use our Kiplinger planning tools for your prospecting and awareness efforts.

PRODUCT NEWS

Custom Care III product overview and state variations
Review this flier for the product nuances in your state, Form: LTC-8034
Also, the Facts at a Glance provides an overview of features and benefits, Form: LTC-8022

PARTNERSHIP NEWS

Are you compliant to sell LTC insurance?
Most states now have mandatory LTC training requirements in place. After you take the initial training requirements of 8 hours, you are required to take a 4 hour refresher course within 24 months of the initial training. (In some states, the refresher training is due by your next CE renewal cycle.) John Hancock makes it easy to understand and check the status of your LTC training requirement. To view your state’s training requirements visit www.jhpartnership.com.

WI: Reminder of producer training requirements
This is a reminder that all producers in Wisconsin must complete the necessary Partnership training requirements prior to being appointed with John Hancock. Visit www.jhpartnership.com to access mandatory Wisconsin training on the John Hancock Partnership Resource Center.

Schedule a Private LTC Partnership class for 2012
Together with our CE Provider LTC Connection, you can have an instructor visit your organization for a private Partnership class in 2012— helping your producers complete the required training in their state. We offer the convenience of the 8-hour initial training and the 4-hour refresher training on the same day for your new producers as well as those that need refresher training. For more information or to schedule a class, visit www.jhpartnership.com and click on Classroom Training.

 

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Genworth: Updated HIPAA Authorization required effective 4/9/12

Updated Health Information Authorization form (HIPAA Authorization) required, effective 04/09/12
Read more

In-Force Rate Action State Implementation Announcement in Nevada
Read more

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Mutual of Omaha: 5 Simple Steps to Show the Value of Owning LTCI

K.I.S.S. – Keep It Simple and Sensible. Five simple and sensible steps can help your client see the value of owning an LTCi policy. View Flyer

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Transamerica: Compensation Adjustment for Single Pay Premiums

April 16, 2012

Re: Compensation Adjustment for Single Pay Premiums

Over the last several months, I’ve spoken extensively about Transamerica’s commitment to the long term care marketplace and in our belief that this market represents tremendous opportunity for those carriers who offer products and programs that are sustainable. I’ve also talked extensively about our willingness to actively manage our long term care business and make any required adjustments to ensure long term success.

As a result of that philosophy, we have determined that a reduction in the compensation paid for single premium policies is required. Effective May 16, 2012, first year compensation for single premiums will be reduced from current rates.  To determine the amount of the reduction applicable to you, please contact the agency assisting you with your Transamerica appointment.

This reduction will apply to all single premium applications received on and after May 16, 2012.

This communication shall serve as the 30-day notice of commission changes required under your contract.

With the current low interest rate environment, it is important that we maintain adequate diversification in the mix of submitted business. As the only leading long term care provider still offering single premium programs, we are making this change to ensure that our business mix maintains acceptable diversification.

We feel confident in our long term care products and programs. As part our business strategy, we will continue to analyze our business to ensure sustainability for the long term. Where necessary, we will make modifications and changes.

We realize that the ability to offer Single Premium policies is an important aspect of your product portfolio. I am pleased that Transamerica Long Term Care is able to continue offering these policies to you, your agents and your clients.

Should you have any questions about this change, please feel free to contact us.

As always, we appreciate your business and value your partnership with us.

Sincerely,

Tim Kneeland
President

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Transamerica: Personalize & Co-Brand Marketing Materials

Introducing TransBuilder – Everything You Need To Co-Brand Transamerica LTC Marketing Materials!

You asked for an easy way to personalize and co-brand Transamerica Long Term Care marketing materials, and we delivered! TransBuilder is an intuitive yet powerful tool that puts the power of the Transamerica brand in your hands.  TransBuilder allows you to seamlessly embed your name and agency logo in Transamerica Long Term Care marketing materials and will be available Friday, April 13, 2012. 

One of the great features of TransBuilder is the ability for you to send personalized, co-branded materials as email attachments directly from TransBuilder to your clients and prospective clients at no cost to you.  Should you choose to have your materials printed it also allows you to take advantage of special Transamerica corporate pricing on all printed materials.

You wanted something easy so we created TransBuilder on the same platform that you already use to order materials – the Agent Resource Center. With only a few additional steps you can upload your logo or picture and personalize strategic Transamerica LTC marketing pieces. Simply log on and select “Order Supplies”. You can then select “TransBuilder” in the sub-menu and start creating your pieces. If you have any questions, a step-by-step TransBuilder Help Guide is available on the TransBuilder page.

With TransBuilder, we make it easy for you to personalize and co-brand materials with multiple delivery options.

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Thought Leaders – Discussions with Transamerica LTC Decision Makers

Last week we introduced Thought Leaders, a bi-weekly live interview with some of Transamerica Long Term Care’s top decision makers. Next Tuesday, April 17th, Transamerica Long Term Care will be presenting our 2nd edition of Thought Leaders. This program is designed to help you learn what sets us apart from other Long Term Care insurance carriers.

Next week, Onda Maughan, Transamerica Field Trainer, interviews David Swaim, Director of Underwriting. They will discuss the Transamerica Long Term Care underwriting philosophy, what 25 years of underwriting for Long Term Care insurance has taught us and how solid underwriting creates a strong foundation for future consumers.

Receive an exclusive insight into how we built our success by putting customers first and why Transamerica LTC should be your first choice for LTCi.

Our topic:  A Solid Foundation: What 25 Years of Underwriting Has Taught Us
Our guest: David Swaim, Director of Underwriting
Call in date: Tuesday, April 17, 2012
Call in time: 10:30 AM CDT

Space is limited, so register today.  Click here to learn more and register.

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