In August 2012, we announced our intention to seek premium rate increases on certain blocks of comprehensive long term care insurance policies, including Pre-PCS, PCS 1, PCS II, and Choice 1. During the course of 2012-2014, we implemented rate increases on these blocks of business. In some states, the full requested increase was not received. Genworth began submitting requests in these states during the second half of 2014.
Kentucky has now allowed our requested increase, and the details of the implementation of this premium change can be found within the announcement.
Servicing agents will receive a list of their impacted policyholders in these states one week prior to the start of policyholder notifications. Policyholder notifications will begin January 31, 2017 and will continue throughout the next year. Impacted policyholders will be notified at least 60-days in advance of their billing anniversary dates.
In-Force Rate Action Announcement: Kentucky