Act now to save! TransCare 3 app deadline is 6/29/17
Transamerica will be re-pricing their current TransCare III rates in 38 states on 7/3/17
Encourage clients to act now to save!
From the Transamerica bulletin on this notice:
Transamerica remains committed to you and to the long term care insurance market. As such, it’s important that we modify our premium rates for new TransCare® III business to remain competitive within the marketplace. These rate changes will also maintain consistency in our pricing across our product portfolio.
Revised rates for new sales of TransCare III will become effective July 3, 2017.
This change applies to the following states: Alabama, Alaska, Arkansas, Colorado, Georgia, Idaho, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming. We will inform you as approvals are received for the remaining states.
Note: New application and disclosure packages will be required. To access the new packages, please visit www.taltc.com or contact the Wholesalers at Newman Long Term Care. Old versions of the application and disclosure packages will no longer be accepted after June 30, 2017.
Deadlines to note:
6/29/17 – All applications must be received by Newman Long Term Care in order for us to process them and overnight them to Transamerica
6/30/17 – To receive old rates, applications must be received in good order by the Home Office by close of business. Old versions of applications or disclosure packages will not be accepted after this date.
7/3/17 – Revised rates for new sales of Transcare III will become effective.
Previously saved quotes on TransQuote® will no longer be available starting July 3, 2017.
Next steps? Contact one of the Wholesalers at Newman Long Term Care immediately for assistance in getting any TransCare III business submitted before these deadlines. Call us at 800-625-9267 or email Quotes@NewmanLTC.com