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