Home in Multiple States LTC Questions

[CALTCAgent]

Hello,

I have a few clients & prospects that have residences/homes in other states than CA.

There are plans in the states where they have homes that they might be better for them and/or able to pass underwriting.

My question is, could I write them a policy with the non CA state if I acquired a non-resident license in that state?

I am assuming it comes down to company policy as to what state is considered their "primary" residence?

If so, does anytbody know what some of the LTC carriers policies are as far as this goes?

Thanks in advance!

 

[BNTRS]

Yes, you can get a non-res producer license in the other states and as long as those other companies will appoint you/do brokerage business you can write those policies.

You could also write those policies with your CA license as long as the paperwork is signed in CA. You'll still need to be appointed with the carriers

 

[yankee466]

Some carriers will insist that the business be placed on the paperwork of the state they reside in (aka pay taxes), others, Hancock for example, will let you write it in the state of their second residence, other job location, etc...BUT, the application is then to be signed in the that other state, so you, or they, may have to buy a plane ticket to legally do this.

 

[Dowejonez]

Their state of residence is the state you're sitting in when you're writing them up. JK. My vote would be the state they pay their taxes in.

 

[Mr_Ed]

Their state of residence is the state you're sitting in when you're writing them up. JK. My vote would be the state they pay their taxes in.

not every company looks at it that way.
in fact, every LTC insurer interprets the laws differently regarding which state is the "state of jurisdiction".