Effective Jan. 23, 2023, Lincoln Financial will be implementing pricing decreases to its MoneyGuard Fixed Advantage® product. The pricing improvements range from 0% to 14%.
LTCI In-Force Rate Adjustments Announced for Four States
Mutual of Omaha has announced in-force rate adjustments for certain LTCI policies in Maine, New Hampshire, New Mexico, and Ohio. The changes will go into effect on Apr. 1, 2023, with the exception of Maine, which will go into effect on May 1, 2023.
SecureCare III Price Improvement
Effective Jan. 23, 2023, Securian Financial has announced rates for SecureCare™ III will be reduced by 25 percent across all case scenarios in all states except AZ, CA, CT, DE, DC, FL, IN, MT, NJ, ND, NY, SC, and SD. SecureCare III is a long-term care (LTC) and nonparticipating whole life insurance policy.
Update for California EssentialLTC Applications
In order to comply with new requirements for Fraud Notice language, National Guardian Life (NGL) has announced an updated form required for all California EssentialLTC applications dated Jan. 1, 2023, and after. The new application will be available via the EssentialLTC Agent Resource Center starting Dec. 30, 2022.
Partnership Minimum Benefit Requirements Announced
Genworth Financial has announced that the minimum Partnership program benefits in four states (California, Connecticut, Indiana, and New York) will be changing for 2023. The changes go into effect on Jan. 1, 2023.
Genworth Announces In-Force Rate Increases in Pennsylvania
Genworth Financial has announced in-force rate increases in Pennsylvania for its Privileged Choice® Flex long-term care insurance products, effective Dec. 19, 2022. Policyholders will begin being notified of these changes starting Dec. 27, 2022.
LTCI In-Force Rate Adjustments Announced for Several States
Mutual of Omaha has announced in-force rate adjustments for certain LTCI policies in the District of Columbia, Kansas, Montana, Ohio, and Virginia. The changes will go into effect on Mar. 1, 2023, with the exception of Virginia, which will go into effect on Apr. 1, 2023.
Reminder about Form 1099-NEC
Genworth Financial would like to share a reminder that Form 1099-NEC will be filed for anyone who is paid at least $600 in commissions in 2022; this includes all product lines. For producers not receiving electronic versions, forms will be mailed directly to resident addresses no later than Jan. 31, 2023.
Genworth Announces In-Force Rate Increases in North Carolina
Genworth Financial has announced in-force rate increases in North Carolina for its Pre-PCS, PCS I, Privileged Choice®, and Classic Select long-term care insurance products, effective Dec. 12, 2022. Policyholders will begin being notified of these changes starting Dec. 20, 2022.
Digital Marketing Library Streamlined
The Digital Marketing Library experience on Genworth Pro will be streamlined starting on Dec. 6, 2022. The library houses forms and materials used to service Genworth’s policies. The look and feel will be very similar to the current platform.
