John Hancock to Offer New Training Courses for LTCI Producers |
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Written by U.S. Insurance News
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Sunday, 16 March 2008 |
In at least half the states this year, insurance companies must meet mandatory long-term care insurance (LTCI) partnership training requirements-and that's a major compliance challenge for carriers.
"Unlike with continuing education, it is the insurers that are required by law to validate both the content of training programs and that agents are in compliance with these new, mandatory LTCI training requirements," said Catherine Dove, director of Partnership Training for John Hancock Life Insurance Company.
To meet this challenge, John Hancock announced that it will expand its (LTCI) training efforts this month by launching an online program later this month that will be compliant with NAIC Producer Training Regulations and state LTCI partnership amendments. John Hancock's training programs are open to all producers who sell LTCI.
John Hancock's new online LTCI courses will provide agents with the content they need to fulfill their obligations for compliance. In order to encourage agent participation, Hancock will offer its online classes for $50 per class. CE credits can be purchased for an additional $15. As with the classroom sessions, agents submitting at least two applications within 60 days of taking the online class will receive a refund of the class fee.
John Hancock already has trained more than 3,000 agents in more than 90 classroom sessions. In addition, more than 70 John Hancock LTCI producers have been certified as "trainers" within their organizations or for recruiting purposes.
Because regulations require insurers to validate the status of their agents' compliance with the training regulations, John Hancock also announced that it has contracted with ClearCert.com to assist with the validation of course content in all NAIC training states and to provide a national clearinghouse of the compliance status.
ClearCert's national clearinghouse reports agent compliance status to carriers and distributors on demand based upon course completion data reported by training providers. LTCI carriers and distributors can instantly confirm that an agent is in compliance with any participating state's requirements.
"ClearCert will provide carriers and distributors with a single source for validating training compliance of producers from multiple training providers, and that's a much- needed service at this time," Dove said.
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