As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. In September 2013, we announced our intention to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. At the time, larger increases were justified, based on projected experience, but rate stability requirements prevented us from requesting the fully justified amount. In 2016, we began requesting the full amount in states that previously allowed our 2013 ask. Kentucky has
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Delaware, Iowa, South Carolina, Washington D.C. As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. In September 2013, we announced our intention to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. At the time, a larger increase was justified, based on projected experience, but rate stability requirements prevented us from requesting the fully justified amount. In 2016, we began requesting the full amount in states that
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Florida requires the signature of the licensed and appointed insurance producer/agent, along with the Florida license number, on the Application Part II Medical History and Overflow Form. The Application Part II and Overflow Form will be sent with the policy package for signatures. The Licensed and Appointed Insurance Producer/Agent must sign both copies of the Application Part II (including any overflow pages, if applicable) and include the Florida License Number prior to delivering the policy to the insured. Once the insured review, signs, and dates both copies, all pages of one copy, located in the Delivery Requirements section of the
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Arkansas, Georgia, Mississippi, Missouri, Ohio, Oklahoma, Pennsylvania, South Dakota As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. In September 2013, we announced our intention to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. At the time, a larger increase was justified, based on projected experience, but rate stability requirements prevented us from requesting the fully justified amount. In 2016, we began requesting the full amount
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Each year, the original Partnership states (CA, CT, IN and NY) revisit and adjust minimum benefit requirements to qualify for their Partnership programs. The following information outlines the changes for 2017. California The minimum benefit requirements for Partnership in California will change for 2017. The table below illustrates the changes: Requirements 2016 2017 Minimum Daily Benefit $190 $210 Minimum Monthly Benefit $5,890 $6,510   Transition Rules Policy Issue CT and NY Partnership minimum requirements are based on the date of application. Indiana Partnership minimum requirements are based on the policy effective date. Applicants who choose the Conditional Insurance Agreement, provide
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Requesting Book-of-Business Reports Protecting the security and confidentiality of our policyholders’ information is very important to Genworth. Specifically, Genworth and our producers must follow certain rules when handling information related to our policyholders including restricting the transmission or disclosure of that information to the minimum necessary to accomplish the intended purpose. Effective immediately, any request from a BGA or producer for a book-of-business report will no longer be accepted. If a BGA or producer needs a book-of-business report, that information must be obtained from Genworth® PRO. For your convenience, we have included a Producer Reference Guide on how to run
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As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. In September 2013, we announced our intention to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. Subsequent to that announcement, we received approval for, and implemented, a 12.8% premium increase in Iowa. At the time, a larger increase was justified, based on projected experience, but rate stability requirements prevented us from requesting the fully justified amount. In
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