Thrivent LTCi increase benefit riders approved for partnership
To Agents licensed in Idaho, Maryland or Michigan
Since the launch of Thrivent’s long-term care insurance (LTCi) product in March, we’ve been working with many state regulators to pursue partnership eligibility for our increase benefit riders. Idaho and Maryland approved additional riders, and Michigan is now approved for partnership. Depending on the applicant’s issue age, the updates are:
Idaho:
- Issue ages 60 and under, and ages 61-75: 1%, 2% or 3% Automatic Increase Benefit (AIB) rider, or the Flexible Increase Benefit (FIB) rider.
- These additional riders qualify for Partnership on contracts issued on or after March 25, 2016.
Maryland:
- Issue ages 60 and under: 1% or 2% AIB rider.
- These additional riders qualify for Partnership on contracts issued on or after June 6, 2016.
Michigan:
- Issue ages 60 and under, and ages 61-75: 1%, 2%, 3% or 5% AIB rider, or the FIB rider.
- These riders qualify for Partnership on all contracts issued.
- Disclosure form 27457MI is required to be provided at time of solicitation, and can be found in the MI Leave with Applicant packet.
Retroactive recognition of partnership eligibility Thrivent will retroactively recognize the partnership eligibility for contract holders who purchased the increase benefit riders. Impacted contract holders will receive a notification letter along with any required disclosures, point-of-sale materials and revised contract pages when needed. (You will be cc’d on the letters.)
Rules to maintain FIB partnership Each state has unique rules that must be met to maintain FIB partnership eligibility. For details, refer to the State Specific Partnership Requirements document, which is located on the Producer Website.
Questions
For products and sales support, call Newman Long Term Care at 800-625-9267