As some of you may know, TransAmerica has announced they are leaving the Long-Term Care market. While this is big news, the GREAT news is that other carriers have recently reaffirmed their commitment to the LTC space. Here are some carrier responses:
Mutual of Omaha
| We sold our first long-term care insurance policy in 1987, and since then, Mutual of Omaha has paid over $1.1 billion in benefits to our policyholders. We are committed to providing solutions that will meet the long-term care needs of your clients and prospects, and to offering you the tools and resources that make it easy to do business with us. |
| Mutual of Omaha continues to invest resources into growing and refining our LTCi business and is proud to offer you the following: |
| · Product Solutions — When it comes to long-term care insurance, there isn’t a one-size-fits-all solution. Every client is different. Every solution is unique. We are continuously evaluating existing products for longevity and looking for ways to expand our offerings.
· Process Improvement — We seek to identify new solutions, new processes and value-added benefits to help you meet your clients’ unique needs. · Devoted Underwriting and New Business Teams — Our dedicated underwriting and new business teams are ready to help you and your agents through the underwriting process, including training webinars and answering your pre-screen emails within four hours of receipt during business hours. · Marketing Content — We are laser-focused on creating content that helps you promote our LTCi products to clients, as well as developing new sales ideas and training tools to educate agents. · Claims Support — Our claims department continues to add seasoned leadership, claim specialists and care coordinators to provide your customers a seamless and satisfactory customer service experience when they need it most. |
| A History of Strength, Security and Stability |
| We know you have choices when it comes to placing your trust in an insurance carrier, and in these complicated times, it’s more important than ever to consider the financial strength and stability of the company you choose to do business with. Through two World Wars, the Great Depression and the many economic challenges since, Mutual of Omaha has kept its promise to be here to pay our customers’ claims. |
| As a leading long-term care insurance carrier, Mutual of Omaha has a responsibility to ensure our pricing strategies and product offerings are effective. We will continue making the responsible business decisions to be here for our policyholders when they need us most. |
| Thank you for your continued trust in Mutual of Omaha. We believe in long-term care insurance and look forward to providing you LTC solutions for years to come. |
LifeSecure
As we reflect on an unpredictable year and look ahead to 2021 and beyond, LifeSecure approaches the new year with optimism.
Unforeseen challenges impacted the Long Term Care Insurance market and our entire industry in 2020, forcing many carriers to make tough, yet necessary, business decisions. LifeSecure hasn’t been exempt from these challenges – while we design and price our worksite LTCi and other products to weather changing market conditions, we aggressively monitor, measure, and manage our business to ensure we are there to provide the reliable solutions you’ve come to expect from LifeSecure, today and into the future.
Regardless of the challenges we face, the need for LTC solutions has never been greater.
We remain committed to supporting our broker and agent partners while collaborating with others in the industry to create a more robust future for LTCi. And while the coronavirus pandemic created new obstacles in the worksite market, we’ve rapidly adjusted our business model to help you continue to meet the needs of your clients through additional remote selling tools and resources.
A strong and stable LTCi market is a shared goal for insurance carriers, distribution partners, and others across our industry. As we move forward, we’re proud to continue working alongside new and existing industry partners to achieve this mission and deliver important protection to families for years to come.
We thank you for your partnership and continued support of LifeSecure. We truly value our relationship with you and your organization. If you have any questions, please don’t hesitate to contact us.