Genworth Financial has announced in-force rate increases in North Carolina for its Pre-PCS, PCS I, Privileged Choice®, and Classic Select long-term care insurance products, effective Dec. 12, 2022. Policyholders will begin being notified of these changes starting Dec. 20, 2022.

Effective Jan. 1, 2023, ELCO Mutual Life & Annuity will be implementing adjustments to the Medicaid Compliant Annuity (MCA) product line. Payout rates will be changing, certain commissions will receive an increase, and the Cash Refund option will no longer be available. The last day to submit new business in 2022 will be Dec. 23.

Genworth Financial has announced in-force rate increases in Georgia for its Privileged Choice® Flex long-term care insurance products, effective Nov. 21, 2022. Policyholders will begin being notified of these changes starting Nov. 29, 2022.

Genworth Financial has announced in-force rate increases in Washington, D.C., for its AARP Group long-term care insurance product series, effective Nov. 21, 2022. This premium rate increase also impacts certificates in 29 states. Policyholders will begin being notified of these changes starting Nov. 29, 2022.

Mutual of Omaha has announced in-force rate adjustments for certain LTCI policies in Alabama, Alaska, Delaware, Hawaii, Maine,  Massachusetts, Nebraska, Nevada, New Jersey, New Mexico, Pennsylvania, Puerto Rico, South Carolina, and Virginia. The changes will go into effect on Feb. 1, 2023, with the exception of Maine, which will go into effect on Mar. 1, 2023.

Genworth Financial is reminding agents that anyone who has been paid at least $600 in commissions in 2022 will receive Form 1099-NEC (Non-Employee Compensation). This includes all product lines.

Genworth Financial has announced in-force rate increases in Oklahoma for its Privileged Choice® Flex long-term care insurance products, effective Nov. 14, 2022. Policyholders will begin being notified of these changes starting Nov. 22, 2022.

Genworth Financial has announced in-force rate increases in North Dakota for its Privileged Choice® and Classic Select® long-term care insurance products, effective Nov. 14, 2022. Policyholders will begin being notified of these changes starting Nov. 22, 2022.

Genworth Financial has announced in-force rate increases in Delaware for its My Future, My Plan 1.0; My Future, My Plan, 2.0; and AARP Association Group long-term care insurance products, effective Nov. 14, 2022. Certificate holders will begin being notified of these changes starting Nov. 22, 2022.

The New York Department of Financial Services (DFS) has adopted a best interests standard for those licensed to sell life insurance and annuity products in New York. Amendments were implemented to ensure all recommendations related to the sale of these products are in the consumer’s best interests.