On November 17, 2014, Genworth will launch Privileged Choice Flex 3 (Flex 3) in CT, FL and MT. Additional states may be launched. Flex 3 offers flexible options to create long term care insurance (LTCI) plans with solid benefits for policyholders.
Click here for the full bulletin, which includes a comparison of Flex 2 and Flex 3 features, information on commission changes and more.
TRANSITION RULES
Please carefully review the transition dates and rules below. No exceptions will be available.
Important Note
Prior to soliciting new business, verify your producer license is in good standing, you have completed all required CE, and you are in compliance with all applicable licensure requirements. Applications will be returned if all such requirements have not been met as of the date of the application. No exceptions will be made for applications resubmitted after the cut-off dates as outlined below. For up-to-date information for Genworth applications, education and training statuses go to https://pro.genworth.com.
Quote It!
System Availability:
Online – unavailable 9AM ET Saturday, 11/15, until 6AM ET Monday, 11/17 – IMPACTS all states
Offline – available, provided it was downloaded before 9AM ET Saturday, 11/15
Quote It! Changes Effective 11/17/14:
Offline Quote It! requires update – Connect to internet and open Quote It!
All saved quotes will be updated to Flex 3
Sales support teams can run prior products on launch day
Paper Applications:
11/17/14 – Last valid Home Office Receipt Date – Flex 1 and Flex 2 applications must be received by 8:00PM ET
11/17/14 – Last valid Application Signed Date
Faxed applications must be sent to either: 434 948.5566 or 800 456.8329.
Applications may be emailed to EMM-GNWLTCApps@genworth.com.
Note: Applications faxed or emailed to any fax number or email address other than those listed above may not make the 8:00 PM cutoff.
LTC Quick Request (QR):
11/14/14 – Last day to submit QR – Flex 1 and Flex 2 QRs must be received by 11:59 PM ET
11/14/14 – Last day to quote Flex 1 and Flex 2 for QR applications
12/08/14 – Flex 1 and Flex 2 QR application interviews must be complete
12/29/14 – Last valid Home Office Receipt Date for signed Flex 1 and Flex 2 QR applications
ALL Flex 3 applications submitted prior to 11/17/14 will be returned.
MARKETING MATERIALS AND SALES TOOLS:
Marketing materials will be available through normal processes on 11/03/14
Underwriting materials will be available through normal processes on 11/03/14
Sales Tools:
– Quote It! will be available at launch
– LTC Quick Request will be available at launch
– Applications and Forms Booklets will be available on 11/03/14