May 24, 2012
Update on New Business Application Processing for LTCi
Prudential Long-Term Care announced last month that our new business area and customer service center have experienced a significantly higher-than-usual volume of applications since we discontinued selling Individual Long-Term Care Insurance products effective March 30, 2012. In our last communication, we assured you that we are working to process pending applications as quickly as possible and we’ll continue to provide a dedicated staff of associates to answer any questions you or your clients may have regarding Prudential long-term care insurance policies. At this time, we’d like to provide you with an update of LTCi application processing: All applications that were received by the deadline have been entered into our administrative system. We continue to pursue missing information for the high volume of applications received not in good order. Simultaneously, we are in the process of ordering and waiting for medical records, medical underwriting, and ultimately (if approved), issuing the policies. The high volume we received has somewhat slowed down our turnaround time and we thank you for your patience as we complete these essential steps of the application process. Please use the Producer Portal for determining the status of any pending applications rather than calling our Customer Service Center whenever possible since we are receiving a high volume of status inquiries. It is our goal to complete the processing of all applications submitted before March 30 by June 30, 2012. Again, your patience during this period of exceptionally high volume is greatly appreciated