Important notice: Changes to Lumico Operations

[Northeast Agent]

Important notice: Changes to iptiQ Operations​

Dear valued agent,

We hope this message finds you well. We are writing to inform you of significant changes regarding iptiQ and our Lumico carrier business, following a strategic review conducted by Swiss Re.

Here's what you need to know:

• Swiss Re has concluded that it is no longer the best owner of the iptiQ and Lumico carrier businesses.
• They have decided to move forward with putting the iptiQ/Lumico Medigap Solutions and life insurance businesses into run-off.
• This means that over the coming weeks/months we will stop appointing new agents and stop accepting new business for all of our life insurance and Med Supp products.
• We will continue to focus with the utmost care on our existing policyholders.
• Our team is committed to supporting you throughout the transition period. You can continue to reach out to our agency support teams with any questions or review our FAQs.

Important dates:

• Effective July 1, 2024, we will no longer accept new appointments for new or existing agents.
• Appointment requests started prior to July 1, 2024, will continue to be processed.
• Effective October 1, 2024, we will no longer be accepting any new business for our Med Supp and life insurance products.

We understand that this news may come as a surprise, and we appreciate your understanding and cooperation during this transition. Our priority is to ensure a smooth process for all parties involved, especially our existing policyholders.

Thank you for your continued support and partnership. If you have any questions or need further assistance, please reply directly to this email to get in touch.

Thank you,

Lumico team

 

[Duaine]

So long, farewill. Another on bites the IRA dust:

 

[Fisher]

I thought this news came out a week or two ago.

 

[somarco]

Lumico gone?

Shocked!

Not really. Stevie Wonder could have seen this coming.

 

[goillini52]

Lumico gone?

Shocked!

Not really. Stevie Wonder could have seen this coming.

I saw it coming on 1/1/2024 when they closed the books in 9 states.

Effective January 1, 2024, acceptance of new Med Supp applications in select states will be discontinued. I thought it was dumb that FMO's were still holding webinars for them.

• Lumico states: NV and WY
• Elips Life states: IA, IL, MD, MO, NE, OK and SD

 

[Tahoe Ray]

I thought this news came out a week or two ago.

Over a month ago.

 

[Fisher]

Over a month ago.

I thought this news came out a week or four ago.

 

[Tahoe Ray]

I thought this news came out a week or four ago.

At least two fortnights ago. Possibly more.

 

[Ronnie Carter]

So long, farewill. Another on bites the IRA dust:

A classic movie, one of the best of all time.

Made when we were not vexed by MAPD conundrums (I was nine when this movie was made).

 

[somarco]

At least two fortnights ago.

Are you reading Longfellow poems again? Or watching Outlander?