Carrier Updates

Effective September 2, 2022, the states of AZ, CT, FL, IN and the District of Columbia will receive the Enhanced EssentialLTC. Get your applications in now to use the current rates before then!

Features

• For joint policies, when one insured passes away the premium will now decrease to an amount specified on the illustration and Policy Schedule for each person.
• The Waiver of Premium Rider for Home and Community Care Services is now built into the policy and premium when Comprehensive Coverage is selected.
• The 10-Year Premium Payment Option is now fully guaranteed and will never be subject to a rate increase.  Florida now has a 10-Year payment option!*
• The underwriting rate classes will be consolidated into a single gender-distinct rate class called “Premier”.  It is a simplified competitive offering with clearer underwriting expectations.  The Employer Group rate class will still be available to approved employer groups in the states where it is available.  (The 5% employer group discount for Arizona and Florida is being replaced by the Employer Group rate class.)

*Florida does not have a Single-Pay option

Streamlined Rider Selection

• Removed: The Step-Rated Compound Inflation Protection Rider.  Still Available: The Compound Inflation Protection Rider with 3% and 5% options.
• Removed: The Full Return of Premium Rider.  Still Available: The Limited Return of Premium Rider.
• Removed: The Full Return of Premium with Optional Policy Surrender Rider.  Still Available: The Limited Return of Premium with Optional Policy Surrender Rider.
• Removed: The 0-Day Elimination Period.  Still Available: The 30, 90 and 180-Day Elimination Periods and the First Day HCCS Benefit Rider.

All available riders can be found in our EssentialLTC Product Summary.

New Business

Applications written in AZ, CT, FL,IN and the District of Columbia must be dated and received in good order by the LTC Administrative Office by the close of the business day at 5 p.m. PST on September 1, 2022, to use the current features and premium structure.

This is applicable to the E-APP, mailed paper applications and uploaded PDF applications. Applications dated or received by the NGL LTC Administrative Office on or after September 2, 2022, must use the updated forms applicable to the client’s resident state and must follow the guidelines from the Premier Underwriting Guide.  No exceptions will be made.

E-APP

E-APP, the illustration program and the quick quote calculator will be updated with the enhancements the evening of September 1, 2022.

To use the current version of the product, all parties must complete their signatures in DocuSign and the E-APP must be submitted, in good order, prior to the September 2, 2022.  For BGAs using the E-APP stopover feature, E-APPs must be reviewed and submitted prior to September 2, 2022, to be considered received before the deadline.

Any E-APP where signatures are not complete and/or not submitted prior to September 2, 2022 will need to be rewritten using the updated forms, premium structure and rate class.  No exceptions will be made.

The enhanced EssentialLTC is currently available in the following states: AK, AL, AR, CO, DE, GA, HI, IA, ID, IL, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, NC, ND, NE, NH, NJ, NM, NV, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY.