Coming Soon: SecureCare III New Reprice and State Launches

Give your long-term care (LTC) clients a benefit boost with SecureCare™ III, an LTC and nonparticipating whole life insurance policy.

Mark your calendars for Wednesday, June 28, 2023:

• SecureCare III rates will decrease by 25 percent across all case scenarios in Arizona and Indiana
• SecureCare III will launch in Washington DC, North Dakota and South Dakota with its reprice rates 

Transition rules in Arizona and Indiana for the reprice

• Wednesday, June 28, 2023: The new SecureCare III rates will be available in Arizona and Indiana.
• All pending applications that have an effective date on or after June 28, 2023 will automatically be eligible for and receive the new pricing. This will result in a face amount that is higher than originally illustrated.
• Policies that have already been issued, paid and/or are in-force are not eligible for the new rates.
• SecureCare III’s normal backdating rules and age limitations apply. To receive the new pricing, we cannot backdate prior to June 28, 2023. 

Transition rules in Washington DC, North Dakota and South Dakota for the launch of SecureCare III 

• Tuesday, June 27, 2023: Applications for SecureCare Universal Life in Washington DC, North Dakota and South Dakota must be signed, in good order and received by Securian Financial’s home office or submitted via eApp by 3 p.m. CDT on Tuesday, June 27. 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.
• Wednesday, June 28, 2023: SecureCare III will be available in Washington DC, North Dakota and South Dakota. To accommodate SecureCare III’s product changes, we will offer a new application.
• 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.

All licensing and LTC certification training must be in good order before the sale of any LTC products. Review LTC licensing and training requirements in each state.