Provada Launches Weekly Video Series - First Up Annuity Care
Urgent LTC Update for California Agents
For those of you active in the Long-Term Care insurance field and who have the CE required to sell policies endorsed by the California Partnership for Long-Term Care, please note that the minimum daily benefit is going up to $170 on January 1, 2011. This year, it is $160.
Another One Bites The Dust.... Assurity pulls out of LTC market.
After much thought and discussion, Assurity’s senior management has decided to discontinue sales of their AssurityBalance® Long-Term Care Insurance (LTC) policy.
Here is what they said.
Life Insurance Policies with Long-Term Care Benefits Offer Enormous Benefits
We have provided information previously, both through blog posts and Webinars, on the many ways today of writing Long-Term Care insurance:
John Hancock's new LifeCare, a single premium whole life insurance policy with LTC benefits, is now Available in CA.
John Hancock's new LifeCare, a single premium whole life insurance policy with LTC benefits, is now Available in CA.
By Repositioning a portion of your clients asses into a fully guaranteed JH LifeCare policy, your clients are able to help protect their family, their hard-earned assets and their future from high costs of long-term care.
JH's LifeCare offers:
John Hancock Announces Important LTC Product Change
Effective June 7, 2010, John Hancock is streamlining their product portfolio by discontinuing Leading Edge sales (except in FL) and focusing our resources entirely on Custom Care II Enhanced, which now includes many of the same features as Leading Edge, including the popular CPI-linked inflation option. Corporate Solutions will continue to be available on the Leading Edge product platform, with new business rates being introduced on June 7, 2010, in approved states. (See ‘Corporate Solutions’)
John Hancock Announces Important LTC Changes to Product and Pricing
Throughout the spring and summer, John Hancock will be implementing a number of changes to our individual LTC insurance product portfolio in response to the challenging economic environment and trends. 
Adjusting to the new reality - What does all this mean for the LTC insurance industry? John Hancock will be having a series of product changes in spring/summer of 2010:
Product changes
Streamlining our product portfolio — Effective June 7, 2010, we will simplify our product portfolio by withdrawing Leading Edge (except in FL) and focusing our resources entirely on Custom Care II Enhanced, which carries many of the same features as Leading Edge, including CPI-linked inflation, which is the preferred inflation choice of 70% of our buyers. Corporate Solutions will continue to be available on the Leading Edge platform, with new business rates being introduced on June 7, 2010, in approved states. As part of our overall product plans we will also implement the following:
Throughout the spring and summer, John Hancock will be implementing a number of changes to our individual LTC insurance product portfolio in response to the challenging economic environment and trends. 
Adjusting to the new reality - What does all this mean for the LTC insurance industry? John Hancock will be having a series of product changes in spring/summer of 2010:
Product changes
Streamlining our product portfolio — Effective June 7, 2010, we will simplify our product portfolio by withdrawing Leading Edge (except in FL) and focusing our resources entirely on Custom Care II Enhanced, which carries many of the same features as Leading Edge, including CPI-linked inflation, which is the preferred inflation choice of 70% of our buyers. Corporate Solutions will continue to be available on the Leading Edge platform, with new business rates being introduced on June 7, 2010, in approved states. As part of our overall product plans we will also implement the following:
For less than $65 per month, your 40 year old client can StartSmart&Build their long-term care coverage
Why let your younger clients go without any Long-Term Care coverage just because they are not yet ready to purchase all of their coverage today?
For less than $65 per month, your 40 year old clients can StartSmart&Build their Long-Term Care coverage.
Brain Shark on program: https://intramet.investmet.com/public/doclib/LifeMarketing/HTML/Hub/LSA/index.html
What does it mean to StartSmart&Build?
Fund your life insurance with LTC benefits using your IRA!
Do you have clients who receive their Required Minimum Distribution (RMD) and do not have an income need for it?
Do they take their RMD money and place it in a savings or money market account?
Asset-Care® III by State Life Insurance Company, is a strategy that combines an individual retirement annuity (IRA) and a 20-pay whole life policy. The life insurance policy accelerates the death benefit for qualifying long-term care expenses, and is funded through the IRA - which is issued with a single premium.
John Hancock on Health Care Reform & LTC: CLASS Provisions
Yesterday, President Obama signed into law the health care reform bill (now known as the Patient Protection and Affordable Care Act), which includes the Community Living Assistance Services and Supports (CLASS) provisions. Many of the details of the CLASS provisions are not yet defined and will be developed through regulation, but we are pleased to provide you with the available information below.
What are the CLASS provisions (formerly known as the CLASS Act)?
The CLASS provisions create a voluntary government program under which participants will pay a monthly premium, will be covered on a guaranteed-issue basis, and will be eligible for 
modest benefits for their long-term care needs after five years of paying premiums. While it has been characterized as a long-term care program, it is primarily designed as a program to provide assistance to the working disabled. It’s important to note that benefits will be paid by premiums collected from voluntary participants and not by the taxpayers.
What are the details of the coverage that would be provided?
Most of the terms of the new CLASS program that passed as part of the Patient Protection and Affordable Care Act will be developed by the Department of Health and Human Services over the next few years. Certain terms are set in statute, including the following:
Enrollees will:
* pay a monthly premium, through payroll deduction, that has yet to be determined, but most recent estimates indicate that the average premium will be $180-$240/month; that premium could be increased yearly to ensure that the CLASS fund is actuarially sound.
be covered on a guaranteed-issue basis;
* be eligible for benefits for their long-term care needs after paying premiums for the first 60 months of coverage (i.e., a 5-year waiting period) and have worked at least three of those five years;
* receive a lifetime cash benefit after meeting benefit eligibility criteria, based on the degree of impairment, which is expected to average about $75/day or more than $27,000 per year and is payable as long as the claimant remains disabled.
Yesterday, President Obama signed into law the health care reform bill (now known as the Patient Protection and Affordable Care Act), which includes the Community Living Assistance Services and Supports (CLASS) provisions. Many of the details of the CLASS provisions are not yet defined and will be developed through regulation, but we are pleased to provide you with the available information below.
What are the CLASS provisions (formerly known as the CLASS Act)?
The CLASS provisions create a voluntary government program under which participants will pay a monthly premium, will be covered on a guaranteed-issue basis, and will be eligible for modest benefits for their long-term care needs after five years of paying premiums. While it has been characterized as a long-term care program, it is primarily designed as a program to provide assistance to the working disabled. It’s important to note that benefits will be paid by premiums collected from voluntary participants and not by the taxpayers.
What are the details of the coverage that would be provided?
Most of the terms of the new CLASS program that passed as part of the Patient Protection and Affordable Care Act will be developed by the Department of Health and Human Services over the next few years. Certain terms are set in statute, including the following:
Enrollees will:
* pay a monthly premium, through payroll deduction, that has yet to be determined, but most recent estimates indicate that the average premium will be $180-$240/month; that premium could be increased yearly to ensure that the CLASS fund is actuarially sound.
be covered on a guaranteed-issue basis;
* be eligible for benefits for their long-term care needs after paying premiums for the first 60 months of coverage (i.e., a 5-year waiting period) and have worked at least three of those five years;
* receive a lifetime cash benefit after meeting benefit eligibility criteria, based on the degree of impairment, which is expected to average about $75/day or more than $27,000 per year and is payable as long as the claimant remains disabled.
Follow Us