A Statement from Transamerica regarding Long Term Care
"Thank you for your patience following the announcement regarding the exit of our standalone Long Term Care business. At time of the announcement last month, we shared that there would be more detail to follow in January. We are currently working with the transition team and senior leadership to provide a comprehensive communication to include transition rules, FAQs and additional supporting documentation. In the interim, I have received clearance to share with you in advance this high-level correspondence which includes important dates for both individually sold and MultiLife business."
- Individual LTC – March 31, 2021 – all applications must be completed, signed and received by Transamerica LTC by this date.
- Multi-Life LTC – A SGR for an approved MultiLife case must be received no later than March 31, 2021. Last day to submit a MultiLife Application will be June 30, 2021
*Importantly – for those of you that work with, or are interested in, other Transamerica products (Life, Annuity) the LTC riders and Living Benefits imbedded in those products are unchanged.”
MCC Brokerage will continue to offer Long Term Care with Mutual of Omaha, One America (“State Life”), along with the riders in the Life Policies such as John Hancock, Lincoln Moneyguard and others. Call us if you have any questions.
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