2010 RATE ACTION
Next round of 2010 in-force rate action notifications to take place in late February
In late February, we will begin policyholder notifications of in-force rate actions on the next round of John Hancock and Fortis policies with an effective date of the next anniversary on or after May 1, 2013. LTCI individual policies originally issued in California, Massachusetts and North Dakota are impacted. Please click here to read the full article.In late February, we will begin policyholder notifications of in-force rate actions on the next round of John Hancock and Fortis policies with an effective date of the next anniversary on or after May 1, 2013. LTCI individual policies originally issued in California, Massachusetts and North Dakota are impacted. Please click here to read the full article.
PRODUCT NEWS
Custom Care III featuring Benefit Builder available in 4 additional states on January 28, 2013 – marketing materials available on January 21nd
We are pleased to announce that Custom Care III featuring Benefit Builder will be available in 4 additional states on January 28, 2013: Delaware, Florida, Hawaii, and New York. Please note: There are no changes at this time to the NY State Partnership. Benefit Builder is a first-of-its-kind feature that provides an affordable alternative to costly traditional inflation options, giving you a powerful solution to help expand your sales reach into new markets. To learn more, you can visit the product microsite at www.ExpandYourLTCUniverse.com. Click here to download the recruiting flier now, and click here to read the full article to learn more about the marketing materials that will be available prior to launch.
Custom Care III and Core Care to be discontinued in four additional states on January 28th
The current Custom Care III product will be replaced by Custom Care III featuring Benefit Builder in Delaware, Florida, Hawaii, and New York, where Custom Care III featuring Benefit Builder is being introduced, on January 28, 2013. All Custom Care III applications for current rates in these states must be signed no later than January 27, 2013, and received in the Home Office by February 4, 2013. Also, effective January 28th, Core Care will no longer be available for states with Custom Care III featuring Benefit Builder.
John Hancock LTC Insurance’s Benefit Builder Bonus program will be available in Florida, Hawaii, and New York
Beginning February 1, 2013 through July 31, 2013, John Hancock’s new “Benefit Builder Bonus” program will be available to agents in Florida, Hawaii, and New York. Sell John Hancock’s new and innovative CCIII featuring Benefit Builder product and increase your earnings! Click here to access more information on this new “Benefit Builder Bonus” program.
INDUSTRY NEWS
Pension Protection Act update
As previously communicated to our producers, one result of the Pension Protection Act introduced a tax incentive for certain government retirees that allows for a minor tax incentive for long-term care insurance (LTCI) policyholders. Up to $3,000 (not limited to the IRS age-based table) of otherwise taxable distributions from a government retirement plan may be excluded from income annually if used to pay qualified health insurance premiums (including qualified LTCI) for Retired Public Safety Officers, their spouses and dependents who meet the distribution qualifications. Click here to read the full article.
MARKETING NEWS
Updated tax guide (GFR-TX), LTCi state tax incentive guide (LTC-1199), and tax advantages prospecting brochure (LTC-4920) are now available
The tax guide (GFR-TX) has been updated for 2013, and is now available to order and download on jhltc.com. The prospecting brochure (LTC-4920), a leave-behind or mail piece from producers to consumers, and the LTCI state tax incentive guide (LTC-1199), have also been updated and is now available to download and order. Lastly, a 15-minute Brainshark training presentation walks through the potential tax deductibility of LTC Insurance Premiums for individuals, the self-employed and business owners. In addition to the guidelines for each, examples of how to calculate the portion of the premium that may be deductible are also included. Check out the tax guide, the incentive guide, the prospecting brochure, and the training presentation now.
Reminder: Marketing materials approved in Delaware
We have recently received approval from Delaware on the following marketing materials: Quiz brochure (LTC-8006 5/11), CPI brochure (LTC-8076 5/11), and the Caregiver Support Services brochure (LTC-8080 5/11). These brochures are not state-specific and are now available in DE for download and order on jhltc.com.
PARTNERSHIP NEWS
Maine DRA Partnership “Like for Like” exchange mailing to drop next week
The state of Maine allows for certain existing policyholders with contracts issued on and after July 1, 2004 an opportunity to exchange their policies for those that qualify for Partnership status. Read this article for timing and complete details on producer and policyholder mailings.
Florida DRA Partnership “Like for Like” exchange mailing has been sent
The state of Florida allows for certain existing policyholders with contracts issued on and after March 1, 2003 an opportunity to exchange their policies for those that qualify for Partnership status. Read this article for timing and complete details on producer and policyholder mailings.
COMMISSION NEWS
Paper commission statements are no longer available
On Monday, December 10th, we launched eDelivery, a platform designed to help you quickly and easily access your LTC commission statements electronically. As a result, paper statements have been terminated as of Monday, January 14th. Read this article to learn how you can sign up and receive your commission statement up to 5 days sooner.