NGL has announced a new e-App called ClientConnect, powered by iCover, will replace its current e-App beginning Aug. 2, 2024, for a majority of states. It is recommended to finalize any unfinished or incomplete applications through the current e-App system before 4 p.m. PT on Aug. 1. The states of AZ, CA, CT, DC, DE, FL, HI, IN, MT, ND, NJ, SC, and SD will continue to use the current system.
Effective Jul. 22, 2024, Brighthouse Financial will introduce a 3% Compound LTC Option in certain states to Brighthouse SmartCare®, its hybrid life insurance and long-term care (LTC) policy. This new option offers clients the ability to grow their LTC benefit amount at a guaranteed fixed rate of 3% compounded annually. Additionally, two riders will be added at no additional charge: Return of Premium Surrender Benefit Rider and Return of Premium Death Benefit Rider.
Effective Jul. 15, 2024, Lincoln will be implementing pricing decreases to Lincoln MoneyGuard® II, which will improve competitive positioning. Pricing improvements range from 4% to 17% and are strategically focused on issue ages of 55 to 65, 3% compound inflation, and 6-year long-term care durations.
Effective June 3, 2024, Mutual of Omaha has announced the Maximum Monthly Benefit for its MutualCare Solutions long-term care products will increase from $10,000 to $15,000. With this change, the 60-month benefit multiplier on the Secure product will be removed, but the $500,000 policy limit cap on the Custom product is still in effect. Please also note the Maximum Monthly Benefit for Class I and Class II health risks will remain at $5,000. New applications reflecting these changes will be available June 3 and must be utilized no later than June 21.
Massachusetts has revised the Medicare documents that must be left with applicants prior to completing the application. Effective Apr. 26, 2024, the updated documents will be available on the NGL Agent Resource Center under the Massachusetts application documents. They can be accessed by selecting the “New Business” tab and selecting Massachusetts from the dropdown.
A Pre-Underwriting Inquiry (PUI) is an informal inquiry program where you can submit your applicant’s health history for review. OneAmerica recently announced a newly revised PUI form that will allow for a more complete health profile of your applicant and provide a more detailed and consistent response.
Effective Jan. 29, 2024, Securian Financial has announced rates for SecureCare™ III will decrease by 25 percent across all case scenarios in South Carolina. All pending applications in South Carolina that have an effective date on or after Jan. 29, 2024, will automatically be eligible for and receive the new pricing. SecureCare™ III will also launch in Montana on this date, making this product and its new rates available in all states.
Effective Feb. 12, 2024, Lincoln is updating its MoneyGuard Policy Dating Rules. Lincoln will no longer offer backdating 1 month from the signature date of the Part I to save age. With the new rules, the insured’s insurance age is the insured’s actual age on the date when the application is signed, the insurance age could increase if the insured has a birthday between the time of application and policy placement, and the policy must be placed and/or the 1035 replacement initiated within 1 month of the insured’s birthday.
On Feb. 12, 2024, Lincoln will launch a new user experience for producers who submit electronic life tickets and MoneyGuard® applications from the Lincoln producer website. The new eSubmission Portal will be available on Lincoln’s producer website for Life eTicket and MoneyGuard eApp cases.
Effective Jan. 22, 2024, Lincoln will be implementing pricing decreases to Lincoln MoneyGuard Fixed Advantage in all states, including California. There will be no pricing increases as a result of this update. The pricing improvements range from 0 – 22%, with an average discount of 15% where pricing changes occurred.
Agent Advantage is an exclusive program for all active agents from The Krause Agency. To see if you qualify, complete the short application form below and a member of our team will provide you the necessary enrollment paperwork. If you have any questions about the program or this form, please contact our office directly at (800) 255-1932.
