NGL solidifies its commitment to Long Term Care insurance and gaining additional market share
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NGL solidifies its commitment to Long Term Care insurance and gaining additional market share

With its recent upgrade to A (Excellent) from AM Best, National Guardian Life Insurance Company (NGL) is looking toward the future and solidifying its commitment to the Long Term Care insurance (LTCi) industry with its EssentialLTC long term care product. NGL believes that its diverse product mix, and history of financial strength and stability make it a go-to-choice for LTCi that customers can personalize within their budget.

“As we look to the future, NGL is committed to further its expansion of our distribution into the long term care marketplace. NGL’s upgraded A (Excellent) rating from AM Best means we can be counted on when policyholders need us most,” said Knut Olson, NGL President & CEO. “NGL’s 112-year history is forged in its strong foundation of dedication to our partners and playing a vital role for families when they need it most. At our core, we exist to serve our customers and to provide valuable products and solutions that address real issues that real people face in their daily lives.”

Evolving for agents’ needs

NGL has been listening to feedback from the field and adjusting as possible. Some of the modifications made in 2020 include:

  • Simplified and enhanced compensation structure, making it easier for agents and partners to understand how they will be paid. For example, NGL went from eight levels of age bands to now two levels.
  • All policies now have copies of the schedule pages making it easier for agents to keep a copy of the pages for their own records before forwarding the policy to the policyholder.
  • Availability of a wide variety of digital marketing materials and guides for agents to utilize.
  • Electronic application and application upload options accessible to easily assist agents in submitting applications, which is especially valuable during a time when many people are conducting business virtually.

Growing into 2021

  • In April enhancements to EssentialLTC were announced. The changes were geared toward making the product easier to sell, and the new features will allow agents to offer your clients a product that can do more. Product features, options, underwriting classes and the rider selection are now streamlined.  
    • For joint policies, when one insured passes away, the premium will now decrease to an amount specified on the illustration and Policy Schedule for each person.
    • The Waiver of Premium Rider for Home and Community Care Services is now built into the policy and premium when Comprehensive Coverage is selected.
    • The 10-Year Premium Payment Option is now fully guaranteed and will never be subject to a rate increase.
    • The underwriting rate classes are consolidated into a single gender-distinct rate class with clearer underwriting expectations.
    • The rider selection has been streamlined.
  • Welcomed a new member to the sales team. Larry Moore joined the sales team with more than 30 years of LTCi experience. Moore’s strong relationships on the west coast will help grow NGL’s long term care product in California, which was launched in June 2020, as well as expand NGL’s presence throughout the western U.S. The long term care sales team is led by Joe Guyotte, National Sales Manager who has 20 years of LTCi distribution experience. In his roles at major LTCi carriers his expertise is in wholesaling insurance products to brokerage general agencies throughout the nation. Rounding out the team is Lawrence Vivenzio who has dedicated his entire professional career to LTCi. His experience ranges from field sales to agency to carrier positions.
  • According to the 2020 Milliman Long Term Care Insurance Survey, NGL was ranked 9th in 2019 sales for insurers currently selling LTCi by annualized premium. As of April 2021, NGL has more than doubled its LTCi sales from the previous year. Furthermore, NGL looks forward to gaining additional market share due to recent carrier changes and its upgraded rating from AM Best.     
  • Offering and promoting a discount on EssentialLTC to NGL employees to help protect their financial future against long term care needs.

“We have witnessed multiple carriers leave the market throughout the years. As other carriers make the decision to exit the market, NGL is focused on expanding and growing,” said Joe Guyotte, NGL National Sales Manager – Individual Products. “Long Term Care insurance carriers may change but the one thing that doesn’t change is that people need to plan for their long term care needs. And NGL is pleased to offer a customizable, robust product to help people fulfill their needs and face life’s financial challenges with confidence, dignity and grace.”

NGL’s long term care offering, EssentialLTC, is a stand-alone Long Term Care insurance product designed with consumers in mind by offering key features such as lifetime benefits, joint policies and premiums, a Shared Benefit Amount Rider with a third pool of benefits, comprehensive benefit period options, 1035 Exchange eligibility, riders that feature return of premium and optional policy surrender benefits and flexible premium payment options, such as a single premium payment or a 10-year premium payment.

EssentialLTC is currently available in all states excluding Montana and New York. For more information, visit: www.ngl-essentialltc.com.

About NGL

Established in 1909 National Guardian Life Insurance Company (NGL) is an insurance company headquartered in Madison, Wis. Licensed to do business in 49 states and the District of Columbia, NGL markets preneed and individual life and annuities, as well as group markets products. Information about NGL can be found at www.nglic.com; Facebook: Facebook.com/NGLIC and LinkedIn: https://www.linkedin.com/company/national-guardian-life-insurance-company.

Ratings current as of 3/24/21. National Guardian Life Insurance Company is not affiliated with The Guardian Life Insurance Company of America a/k/a The Guardian or Guardian Life.




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