NGL EssentialLTC – Important Washington State Update


NGL EssentialLTC – Important Washington State Update

NGL is currently processing the influx of business created by the Washington State Cares Fund as efficiently as possible; however, due to the high volume of applications, it is recommended you submit Washington State applications on or before September 3, 2021. Applications submitted on or before this date will have a greater likelihood of being issued by November 1, 2021.

NGL will continue to accept and process business from Washington State after September 3, 2021, but those applications are less likely to be issued before November 1, 2021.

Updated Premium Minimum - Applications submitted for less than a $3,000 annual premium (or modal equivalent) will not be processed. Any application received in the home office after Friday, August 6, 2021, must meet the new minimum premium level or it will not be processed.

To further clarify what the $3,000 annual premium is equivalent to:

  • Modal Equivalents - $1,560 Semi-Annual Premium; $810 Quarterly Premium; $263 Monthly Premium.
  • The minimum annual premium for a joint application is $3,000 total, not $3,000 per applicant.
  • Single Premium policies will not be processed if the single premium is under $30,000.
  • 10-Year Pay policies are subject to the $6,000 annual premium minimum.

Commissions: There will be a full charge back of commissions for policies where the premium is not paid for the second year of coverage.

Underwriting: Applicants must have been seen by a physician in the last 24 months. NGL will not be ordering parameds in place of this.

Contracting: Washington is and will continue to be a pre-appointment state for NGL contracting purposes. Agents must be fully appointed prior to soliciting an application.

NGL wants to thank you for your business and collaboration as we all work through this together.

/ Carrier Updates, Featured News

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