In-Force Rate Action Announcement: Maryland

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. Approvals had been received in a number of these states, including Maryland. And Genworth is now beginning to implement the third round of increases, as indicated in the chart 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 May 3, 2016 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: Maryland

#goldencareagent
#Genworth