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Published monthly by United American
Insurance Company for the dissemination of information to its Agents. Home
Office permission must obtained prior to reproduction or other use of
this material.
© Copyright 2003, United
American Insurance Company, McKinney, Texas
All rights reserved.
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ProCare
Rate Approvals
A special mailing regarding ProCare
Medicare Supplement rate approvals for new business and renewals
has been mailed to General Agents in Alabama,
Arizona, Arkansas,
California, District
of Columbia, Illinois,
Indiana, Iowa,
Louisiana, Mississippi,
New Mexico, North
Dakota, Ohio,
Oklahoma, Oregon,
South Dakota and Tennessee.
Great news in Idaho,
Maine, Rhode
Island, Washington,
Wisconsin, and Wyoming!
UA has received approval for no rate increases for 2004 on ProCare
plans available in these states.
Note: News you can use!
As you know, UA began offering dual rate structures in most states
this year — meaning both issue age and attained age rates are
available on selected ProCare plans where approval was received.
What does this mean? As the Agent, you have more flexibility to
offer clients additional choices according to their needs and
budget. As an added bonus for 2004, the attained age rates in some
states for Plans B, C and D have been decreased at the younger ages
beginning with age 65, and increased at the older ages. Issue age
rates for Plans A and/or F in some states (AL, AZ, CA, NM, OH, TN)
were also decreased. Be sure to carefully review your rate cards
when you receive the mailing.
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ATTN:
California Agents
Recent amendments to the California Insurance Code impose additional
restrictions on advertising practices which target prospects age 60
and over who purchase life, annuities or disability insurance. Effective
January 1, 2004, any Agent who meets with a senior in their home
must deliver a written notice to the senior 24 hours in advance of
the presentation. A copy of the notice must be given to the
senior and a second copy must be sent in with the application. A
special mailing including a sample notice will be sent.
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ATTN:
Texas Agents
Form TX-Reg 21.113 has been developed to comply with Texas Trade
Practices Regulation 21.113 regarding non-duplication of health
insurance coverage for applicants age 65 and over. Effective
January 1, 2004 new applications for plans: HIXC, HMXC, MMXC, MSXC,
CANB or LTC written on applicants age 65+ will require the new
two-part form. The applicant must sign the form and retain a
copy for their records. The original must be returned with the
application. Additional forms may be ordered through Supply. |
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Interest
Rate Set
Lifestyle Annuity: 3.00%
Minimum
As announced in the August edition of UA News, the guaranteed
minimum interest rate has been lowered to 3% where state approved.
The new money interest rate for the month of December
is 3.25
percent for these states. Rates will continue to be reviewed and
adjusted accordingly.
Lifestyle Annuity: 4.00%
Minimum
Mississippi and New Jersey
will retain a 4% minimum guarantee rate until the 3%
rate is approved. The new money interest rate for the month of December
is 4.00 percent for these states. Rates will continue to
be reviewed and adjusted accordingly.
Deposit Fund Rider: Effective Jan. 1,
2004, the minimum guaranteed interest rate for Deposit
Fund Rider new business has been set at 3.00
percent, where state approved (see approval chart below).
Effective Jan. 1, 2004, the 4.00
percent guaranteed minimum DFR is no longer available
in any state.
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2004
Agent Supply Information
Medicare Supplement Supplies:
Any United American Agent materials showing 2003 Medicare Part A/B
deductibles should be replaced with the updated 2004 supplies. This
includes the Side-by-Side Guide and outlines of coverage. New
ProCare rate cards will be printed as 2004 rate approvals are
received.
Please be sure to order new supplies
by e-mailing uaagentsupply@torchmarkcorp.com or faxing 405-752-9341. |
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Holiday
Schedule
The McKinney Home Office will be closed
Thursday, Dec. 25 and Friday,
Dec. 26 in observance of the Christmas holidays. In
addition, the Home Office will also be closed Friday,
January 2 for New Year’s Day. We wish everyone safe and
Happy Holidays! |
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December
2003
A New Year's Resolution 