Beginning June 12, 2023, Nationwide is implementing a price improvement across all scenarios for the current CareMatters II product. There will be a price decrease for all scenarios, which varies by the characteristics of the case.
In addition, to make CareMatters II more accessible to more clients, Nationwide is lowering the current minimum LTC benefit from $2,500 a month to $1,500 a month. WI, SD, and VT require higher minimums.
Effective June 12, 2023, all CareMatters applicants in New York will receive Preferred rate classes. From that date, the Single rate classes will no longer be offered. Preferred rate classes are equal to the Couple rates, and all applicants will be eligible for these rates regardless of marital, civil union, or domestic partnership status. Policies issued on or after June 12, 2023, will receive Preferred rate classes.
The only available classes will be Preferred Nontobacco and Preferred Tobacco. You will continue to see the Couple rate classes referenced on the Life Pending Tracker, but customer-facing communications will display as Preferred.
Effective May 31, 2023, new personal worksheets will be available from Mutual of Omaha for all states except California, New York, and North Dakota. Updates include a rate increase history grid, two new questions, and rewording of questions and additional answer options. Previous worksheets will no longer be accepted after June 30, 2023.
Mutual of Omaha has announced in-force rate adjustments for certain LTCI policies in Colorado. The changes will go into effect on Aug. 1, 2023.
Mutual of Omaha has announced its long-term care and long-term care rider underwriting guidelines have been updated effective immediately. If there are any questions regarding the updated guidelines, contact Mutual of Omaha.
Effective May 8, 2023, Securian Financial has announced rates for SecureCare™ III were reduced by 25 percent across all case scenarios in New Jersey. All pending applications that have an effective date on or after May 8, 2023, will automatically be eligible for and receive the new pricing. SecureCare III is a long-term care (LTC) and nonparticipating whole life insurance policy.
Mutual of Omaha has announced in-force rate adjustments for certain LTCI policies in Arizona and West Virginia. The changes will go into effect on July 1, 2023.
Mutual of Omaha has announced in-force rate adjustments for certain LTCI policies in Colorado, Florida, and Missouri. The changes will go into effect on June 1, 2023.
Mutual of Omaha has announced in-force rate adjustments for certain LTCI policies in Utah and Wyoming. The changes will go into effect on May 1, 2023.
Effective January 1, 2023, ELCO Mutual Life & Annuity has added a seven-year term for its Multi-Year Guaranteed Deferred Annuity (MYGA) product. The one- and four-year terms have been discontinued.
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.
