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Long Term Care In The News......
April 4,
2005
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Volume 35
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Welcome to the thirty-fifth 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.
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CHECK OUT OUR WEBSITE
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We are pleased to announce that we have
officially launched our website.
Check us out on the web at www.customcaresolution.com. We have developed this site as an easy
reference tool for you to use. Are
you new to the LTC industry or do you
need to brush up on some of the basics, check out “LTC 101”. Do you want to learn more about the
carriers that we represent, go to “Our Carriers” section for a quick
synopsis of the LTC products currently
being offered. Are you in need of a
reference tool for all the most up to date tax information, visit our “Tax
Deductibility” section. There is so
much more for you to utilize on our site.
Do you want to get into the hot, Employer Sponsored market? We have a whole section dedicated to this
marketplace. Bookmark www.customcaresolution.com,
we know it will be one of your favorites.
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SPOTLIGHT ON NEW YORK LIFE
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We
have previously announced our new relationship with New York Life but did
you know that Custom Care Solution is only one of two General Agents in New York State that are part of their
new Select Partners Network. We are
very honored by this commitment on behalf of New York Life and we are
pleased to be able to offer another Long-Term Care product underwritten by a AAA company. If
you have not taken the time to look at their products, we encourage you to
do so. Just a couple of key
highlights:
- Three Year Rate
Guarantee
- Simple Inflation
Options of 1%, 2%, 3%, 4%, 5% or 6%
- Couples Riders
that give your clients and their spouses
joint waivers of premium, survivorship benefits and spousal waiting
period – where any day that could count towards a spouse’s waiting
period will also count toward the healthy spouse’s waiting period.
- Shared Care Rider
- CPI Inflation Rider
that allows your client to increase their benefits based on their
original issue age – NOT attained age like all other carriers. This offer can also be accepted or
declined as many times as your client wants – with no underwriting.
- Limited cash
benefit built into the base policy.
- A competitive NYS
Partnership policy.
- Four Underwriting
classes which make it easier to get coverage on those harder to place
cases!!!!!!!
- Full marital
discounts even when only one spouse applies.
- And more…..
Please
contact us to receive your
New York Life Long-Term Care kit.
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CARRIERS TO BE ANNOUNCING NEW PRODUCTS
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As we have been announcing in previous LTC in the News, many of
our top LTC carriers will be
launching their next generation products very soon. NOW is the time to revisit
those clients and prospects who have not made a
purchase decision regarding Long Term Care.
The premiums will NEVER be lower than they are today. Prudential,
MetLife and Mass Mutual have all rolled out new
products in many states with the Tri-State area not far behind. Though these products may contain slight
differences in policy design, the premiums can be anywhere from 9 to 30
percent higher. Call us today and we
will help you close these sales.
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ING SECURE INDEX – NY’S ONLY EIA ANNUITY
GOING OFF THE MARKET- MAY 6, 2005
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ING announced this week
that due to changes in NY states non-forfeiture laws, they have been forced
to take NY’s only Equity Indexed-Annuity off the market. Friday May 6, 2005 is the cut off date
for all new applications. Non-Reg 60 & Reg 60 applications and accompanying paperwork must be
received to ING by Friday, April 15, 2005, no exceptions will be
made. Once your client owns this product, they can continue to add new
money into this popular annuity. Rates
have just increased. For purchases between $5,000-100,000 Fixed Rates
are 3.5% and the Guaranteed Strategy has a 6.5% Cap. (1.5% Floor). For
$100,000 +, Fixed Rates are 3.5% and the Guaranteed Strategy has a cap of
7.5%. (1.5% Floor). Agents only need their life license in
order to sell this product.
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HUGE LTC SALES OPPORTUNITY IN 5 STATES - NJ, VA, NV, ID, AK
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NJ LTC Awareness Campaign is
in full swing. Acting Governor
Richard Codey, as sent a letter for over 820,000
residents between the ages of 50 and 70 telling them about the “Own Your
Future” campaign. The letter from
the Governor introduces a very important issue – planning for your future
long-term care needs. In addition to
the letter, an extensive public relations and media event has taken place
for the entire month of February and will continue into March. The campaign focuses on raising awareness
among the media on key long-term care planning issues and placing articles
in local and community news publications.
A 30 second Public Service Announcement will be targeted to the
state’s nine broadcast and cable stations.
The TV exposure will be supplemented by 30 second radio spots during
popular times for the target market. The media campaign will also include TV
and radio talk show appearances by local spokespeople appropriate to
address the long-term care planning issue.
Awareness activities will also focus on reaching private businesses
in New Jersey, with an article planned for New Jersey
Business, a leading publication for the New
Jersey business community. Now is the time to get in touch with your
NJ clients both individuals and employers.
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We at CCS are continually
looking for ways to keep our brokers up to date. If you’d like to send
comments or suggestions to make this newsletter better, please feel free to
contact us.
 
Debra A. Walker, LTCP, CLTC Karin
L. Wertheim, LTCP, CLTC
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