TRANSCARE® II 2012 NOW AVAILABLE IN AR, CT and SD (click here for PDF)
On July 10th, 2012, Transamerica Long Term Care announced that due to the ongoing, historically low interest rate environment and current industry dynamics, a series of changes to our current product offering would be implemented to ensure that our long term care business continues to grow in a financially responsible manner. Approval for those changes has been received from following states:
- Arkansas
- Connecticut (including Connecticut Partnership)
- South Dakota
Changes Effective Monday, December 17, 2012
- An across the board 15% increase on all new business premium rates.
- The current “spouse/partner applying” discount of 30% will be reduced to 20%.
- The “spouse/partner not applying” discount will be reduced from 15% to 10%.
- The Preferred Health Discount will be 10% for individuals and spouse/partners.
Beginning December 17, 2012, these states will be added to the long list of states now selling TransCare® II 2012. The new rate changes announced on July 10th, 2012 will be available to quote on Monday, December 17, 2012. Additional announcements will follow as we receive approval from additional states.
TRANSITION PERIOD: WRITING NEW BUSINESS
The transition period for individual business from TransCare® II to TransCare® II 2012 will be 5 business days. TransCare® II 2012 will be available on TransQuote® Illustrations for AR, CT (including CT Partnership) and SD on Monday, December 17, 2012. TransCare® II will no longer be available after Friday, December 21, 2012.
On December 17, 2012 you can begin quoting TransCare® II 2012 for the above states with TransQuote® Illustration software at the Agent Resource Center and with TransQuote ® Mobile for Android devices. TransQuote® Mobile for Apple will be available 1-2 weeks after launch (December 17, 2012). New rates will also be available in VitalLTC and Stratecision on December 17, 2012.
For Individual applications and Association Groups:
Association cases will be treated as individual cases. Applications for TransCare® II must be properly completed, signed by the applicant, and received in our home office by end of business hours on Friday, December 21, 2012.
For Multi-Life Enrollments:
All enrollment requests for TransCare® II must be received by Friday, December 21, 2012 and must include a fully completed Service Group Requests (SGRs) along with a complete census file. Enrollments for these cases must be completed within 90 days of December 17, 2012 or within the terms of the implementation memo agreed upon by Worksite Administration. Previously approved enrollments are not impacted.
HOW TO DISTINGUISH BETWEEN OLD AND NEW PRODUCT
Old product can be distinguished by the name TransCare® II; the refreshed product can be distinguished by the name TransCare® II 2012.
MARKETING MATERIALS AND TOOLS
We wanted to make TransCare® II 2012 available to you as quickly as possible. Marketing materials for these states will be available electronically on December 17, 2012 in the Agent Resource Center (www.taltc.com). Print materials can be ordered and will be mailed within 2-3 weeks.
Applications and Disclosures:
TransCare® II 2012 applications and disclosures for these will be available on December 17, 2012. Applications and disclosures for TransCare® II will continue to be available through December 21, 2012. After December 21, 2012 applications and disclosures for TransCare® II can only be obtained by calling our Internal Wholesalers at 888-545-2713, option 3.