Archive for March 24th, 2009

The new Bankdraft is for the states of AZ, AR, CA, CO, DE, DC, FL, GA, ID, IL, IN, IA, KY, LA, MI, MN, MS, MO, MT, NE, NH, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TX, UT, VA, WV, WI AND WY

To access the bankdraft form for these states, visit our “Resource Center“, select Lincoln Heritage as the Company and Forms as the Resource.

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The St. Louis Business Journal announce A.M. Best Co. has downgraded the financial strength rating of National States Insurance Co.  The ratings agency downgraded the company’s financial strength rating to C plus plus from B minus and its issuer credit rating to BB minus from B.  A.M. Best also downgraded the outlook for these ratings to negative from stable.

The ratings reflect National States’ expected weak year-end risk-adjusted capital position and sizable operating loss, A.M. Best said.  “Adverse experience on its South Florida home health-care block was the primary reason for the company’s poor 2008 operating results,” A.M. Best said.  “National States is also reliant on receiving timely and appropriate rate increases, which continues to be challenging in Florida.”

To combat its losses, National States has expanded its accident and health insurance products into the Midwest.

A.M Best said it believes the company will be challenged to return to profitability near term.

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Effective April 1, 2009, Guarantee Trust Life, will no longer offer the Part D Prescription Drug products.  Access to UnitedHealthProducers.com, will be terminated for any agent using a Carrier writing number.

CMS guidelines require the payment of first year renewal rates for all applications received with 2009 effective dates.  UnitedHealthCare will continue to pay commissions on a per member per year basis for applications received.  According to CMS guidelines, renewals will be paid for five years.  NOTE:  Renewal payments will end if the member terminates coverage before the end of five years.

Renewal commissions for applications with 2009 effective dates will start in 2010 and will be paid once per year (no change).  Renewals will be paid for five years starting in 2010.

Renewal commissions for existing business will be paid at the 2009 renewal rates.  Renewals paid in 2009 will be considered year1 and will continue for four additional years.

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