“Oh the Irony”- November is LTC Awareness Month

Today I received two emails from Genworth. The first was letting me know that November is Long Term Care Awareness Month. They included tools we can use to promote the idea and discussion topics to help our clients better understand the risk. The second email needs no explanation.

EMAIL # 1

Tools that Help Clients Decide

62% of consumers were moderately to highly educated about long term care insurance prior to submitting a request for a quote.1

Today’s consumers do their research before contacting you.
In this section, find resources to help your clients:
  • Start the conversation
  • Identify the cost of care in their area
  • Develop a financial strategy
November is Long Term Care Awareness Month
You may not need an excuse to talk about long term care with clients. But you may need some help. And since November is Long Term Care Awareness Month, the educational materials may be a perfect way to help your client start a conversation. 

The next email from Genworth was literally two minutes later. It is sad to say that this is the world of LTC. The problem is real…the solutions are murky at best.

EMAIL # 2

After careful consideration, Genworth determined the need to increase premiums on certain LTC insurance policy forms.  Expected claims over the life of the these policies are significantly higher than what was originally anticipated when they were priced.  We recently received approval for the rate increase in California for non-partnership and partnership policies. 

Agent notification begins 11.24.15 and policy holder notification is to begin 12.1.15.

Impacted policyholders will be notified at least 60 days in advance of their billing anniversary date, which is their rate increase date.

We will be hosting two webinars to review the updates and address questions:

 
 

 

 

 

About Jeffrey Berson

40 years in and around the industry has made Insurance a part of my DNA. I have had the pleasure of working with and for some of the greatest minds in our industry. My "Bersonal" View is an attempt to capture some of the best ideas, the best concepts and the best practices in a way that can lead to success for others. It will certainly be my point of view, so please...don't take it "Bersonal".
This entry was posted in Bersonal Posts. Bookmark the permalink.

One Response to “Oh the Irony”- November is LTC Awareness Month

  1. Jeff,
    I wonder if their rate increase will impact their TLC product. Any discussion from Genworth regarding their potential increase for the TLC?

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