Agent Guide | Home Health Care Select
Effective Dates The policy effective date and the bank draft date must match for a policy to be issued. If the requested effective date is left blank, the bank draft date will become the policy effective date. We will honor requests for effective dates starting from the date the application was signed up to 6 months in the future. Insurance policies may not be effective on the 29th, 30th, or 31st of the month. Applications written on these days will be made effective on the 1st of the following month. Additionally, the policy effective date cannot be prior to the applicant’s signature date. Once an application is processed and accepted, the policy is scheduled to draft on the requested effective date. Rates Home Health Care Select rates vary by state and by age. Consult the rate schedule for each state for specific details. • Age Used To Determine Rates: When a quote is prepared in the system, the rate is based on the applicant’s age as of the application submission date. If the policy is then issued, this will be the rate paid by the policyholder until the next rate increase. • Effective Date For Rate Increases: When a client moves from one age band to another (e.g., 65 to 69 moving to 70 to 74), the rate increase will take place on the policyholder’s next policy anniversary month after moving into the higher age band. • Rate Increase Notification Process: Rate increase letters are sent to policyholders when they move up to the next higher rate band and are subject to a rate increase on their next policy anniversary month. Depending on state requirements, this correspondence will be sent to the insured 30-60 days prior to the new rate’s effective date. Underwriting The goal of ManhattanLife and group of companies is to issue insurance policies as quickly and efficiently as possible, while ensuring proper evaluation of each risk. To accomplish this goal, writing agents may be contacted via email to advise him/her of any problem(s) with an application. Complete applications will be reviewed and processed within 48-72 hours. It is very important to ensure the entire application is filled out completely, including all health questions. This greatly helps reduce processing timeframes. If you (agent) or insured are unsure about past medical conditions, impairments, or terminology, please provide any additional comments that could provide additional insight to our underwriters. Telephone Interviews There may be instances when a telephone interview is necessary to verify information within the application. In the event we are unable to complete a phone interview, additional medical records may be required. * Any deviations from the application and information gathered during a Phone Interview could result in processing delays. Please be aware that agents and/or an agent’s representative may not be present or on the line while a phone interview is being conducted.
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