SecureCare March Sales Update
Give your LTC clients a boost
We heard you. And built the long-term care (LTC) solution you want: SecureCare™ III, a hybrid LTC plan built on a nonparticipating whole life insurance policy.
It has all the things you love about its predecessor — a cash indemnity benefit for LTC with no fine print or restrictions about how it can be used — plus more flexibility.
Now clients can choose the protection that matters most to them:
- Maximize protection on their premium dollars with full return of premium
OR - Maximize leverage on their premium dollars with LTC Boost1
Join us on Wednesday, March 30, 2022, to discover what’s new with SecureCare III.
I’ve seen some high-level pricing and this is what stood out to me:
- LTC Boost (minimum ROP/max LTC benefit) option1: in many situations, the new product will get your client more LTC benefit for the same premium as the current product.
- 75% ROP option: in the majority of situations, costs will moderately increase.
- Full ROP option: this is where I saw the largest premium increases – some are fairly significant. Not really surprising considering the low interest rate environment.
There’s a lot to love about SecureCare III and I know we’re going to continue to earn your business. This features comparison is a great overview of what’s new.
That said, in times of change there is always opportunity and now is a great time to encourage your clients to apply for the current product today.
Key Dates
- Monday, March 14, 2022: Illustration software will be updated to include SecureCare III.
- Friday, March 25, 2022: Applications for SecureCare Universal Life must be signed, in good order and received by Securian Financial’s home office or submitted via eApp by 3 p.m. CST.
- Saturday, March 26, 2022: SecureCare III will be available in all states except AZ, CA, CT, DC, DE, IN, MT, ND, NY and SD on eApp. Collect all required eSignatures for SecureCare Universal Life and submit your eApp to Securian Financial before 3 p.m. CST March 25 to avoid impact.
- Monday, March 28, 2022: SecureCare III will be available in all states except AZ, CA, CT, DC, DE, IN, MT, ND, NY and SD. To accommodate SecureCare III’s product changes, we will offer a new application.
Transition Rules
- Applications for SecureCare Universal Life must be signed, in good order and received by Securian Financial’s home office or submitted via eApp by 3 p.m. CST March 25. If a new application is needed due to a licensing issue or because the application is not in good order, the client will no longer be able to apply for SecureCare Universal Life and will need to apply for SecureCare III. Remember that:
- In pre-appointment states, agents need to be pre-appointed before they take the application. See a list of pre-appointment states (on page 3).
- Agents must complete any state-required LTC training before they take the application. Review LTC licensing and training requirements in each state.
- If a client has already submitted an application for SecureCare Universal Life and started the underwriting process, but wants to switch to SecureCare III, the new application is required. This must be sent to us, along with a cover letter explaining the desired change. Any completed underwriting requirements will be applied to the new application.
- SecureCare Universal Life policies that have already been issued, paid and in-force cannot be exchanged for SecureCare III, unless the policy is in its free-look period.
1. The death proceeds, return of premium amount and long-term care benefit amount depend, in part, on the return of premium option selected on the policy application. This option cannot be changed after the policy is issued. For more information regarding return of premium options, please review the contract.