Genworth is changing the timing of the end of year paydown. October 5, 2018 will be the payout for commission payments that have not previously met the minimum payment requirement. Genworth will process all commissions due on October 5, 2018. The $50 minimum payment requirement will resume after October 5, 2018 and will continue through the next commission pay down in 2019. Therefore, there will not be an “end of year” pay down as in previous years. All commission payments, for all products, will be distributed on October 8, 2018. Genworth will resume normal commission payments that have met the
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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. Connecticut has now allowed the following increases: Connecticut Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods PCS I 48.2% phased 14%, 14%, 14% cumulative 48.2% phased 14%, 14%, 14% cumulative PCS II 30.6% phased 9.3%, 9.3%, 9.3% cumulative 30.6% phased 9.3%, 9.3%, 9.3% cumulative       This rate increase applies to Partnership and Non-AARP policies.
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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. Missouri has now allowed the following increases: Missouri Product Series Increase Percentage Privileged Choice 39.25% phased 25%, 11.4% cumulative Classic Select 39.25% phased 25%, 11.4% cumulative     This rate increase applies to Non-AARP policies only. Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the start of policyholder notifications. Policyholder notifications will begin July 31,
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