Welcome to the sixteenth edition of Long-Term Care in the News.  We, at Custom Care Solution, LLC, want you to be on the cutting edge of changes and updates within the Long-Term Care industry.  We will accomplish this through these email bulletins distributed each week to our brokers, agents and their staffs.

 

Long-Term Care In The News …….

 

Custom Care II’s Corporate Solutions

 

Custom Care II’s Corporate Solutions is long-term care coverage for the worksite that features a 5% discount and  simplified underwriting for actively working employees.  Certain family members are also eligible for the 5% discount with full underwriting.  A simple, short application with high level knock-out questions is available under the Modified Guaranteed Standard Issue (MGSI) with limited benefit options.  Under the Modified Guaranteed to Issue (MGTI) offer, the client has the greatest availability of benefit choices.  All policies are individual policies and are fully portable.  There are other restrictions and requirements including participation levels, ages, work hours, discounts etc.  Please call us today to discuss this new marketing program and learn how you can incorporate it into your business plan.

 

More on the New Genworth

 

The President of the Long-Term Care Unit for Genworth Financial Inc., reports that a rate increase on its huge block of business is NOT on the horizon despite industry rumors to the contrary.  Genworth has big plans for its business, such as developing hybrid products that merge long-term care with life and annuity products.  It is also considering a move into the group-sales market as early as the end of this year.  Genworth is committed to continuing a drive to expand LTC sales through wirehouses, brokerage firms, and financial planning shops.  Today, 60% of its sales are through outside channels, 40% through its own captive force of 1,800 long-term care agents – a force that accounted for 90% of sales in the late 1990s.  GE reportedly decided to unload the bulk of its insurance lines in order to focus on faster-growing businesses. 

 

Increase Your Long-Term Care Sales with Mass Mutual’s Women in Business Kit

 

Many of you have discussed long-term care insurance with your corporate clients, (and if you haven’t WHAT ARE YOU WAITING FOR), but have you focused on your women owned or women run businesses?  It has been said that Long-Term Care is a woman’s issue and women tend to be the primary caregivers.  Many women will spend more years caring for a parent than they will raising their own children.  Women know what it takes to be a caregiver, and a working woman knows that she can’t afford to be a caregiver.  Another concern for women is who will provide care for them someday.  A woman who has spent years of her life caring for children and other family members may find it difficult to find quality care when she is the one who needs assistance.  For these reasons, women have a strong interest in protecting themselves.  SignatureCare, Mass Mutual’s traditional tax-qualified long-term care insurance product, is not only a great individual product, but it also has many benefits and options that make it very attractive to employers and associations.  As an endorsed group, employees and members of associations can receive discounted premiums that can be extended to their parent’s, grandparent’s, in-laws and children.  All of this represents a great selling opportunity for you!!  Call us today to receive your Women in Business kit.

 

Long-Term Care Insurance WEBEX Session

 

Mass Mutual will hold its next WEBEX session on Wednesday, July 14, 2004.  The topic will be “Opening the Conversation About LTCI”.  It will be held between 11:00am – 12:00pm EST or 3:00pm – 4:00pm EST.  Learn how to begin the conversation about long-term care insurance with new and existing clients.  Fact-find for emotional, as well as financial needs.  Pre-qualify for health and finances.  Set expectations with your client and create a sense of urgency.  The teleconference call-in number is 877-841-2969.  In order to log-in to the webcast, follow these simple instructions: