In-Force Rate Action Announcement: Michigan (Privileged Choice®)

> Privileged Choice® with Stable Premium Option
> 1% Benefit Increase Option

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.

Michigan has now allowed the following increases:

Product Series Increase Percentage
Privileged Choice 20.3%

This rate increase applies only to non-AARP policies.

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 30, 2019 and will continue throughout the next year. Impacted policyholders will be notified at least 60 days in advance of their billing anniversary dates.

* If we have your email address on file, you will receive an agent notification through email. If you do not receive an email, you will receive a hardcopy notification in the mail.

NOTE: Policyholders currently on claim will still receive a rate increase notification. However, if they are on waiver of premium, the rate increase will not apply until the premium is no longer waived and becomes due.
In addition, with this premium increase, eligible  Privileged Choice policyholders may consider the Stable Premium Option to ensure no additional rate increases until at least 2024. This option includes a specific set of benefits shown in their premium increase notification.
See the Privileged Choice and Classic Select Stable Premium Option bulletin dated July 1, 2019 for details.

This premium increase also includes the 1% Benefit Increase Option as an additional choice for Privileged Choice policyholders who currently have a benefit increase option as part of their policy. If this option is selected, policyholders will retain their increased Daily Benefit Amount (DBA). The increased DBA and Total Lifetime Benefit will increase at 1% compound going forward.
See the Privileged Choice and Classic Select 1% Benefit Increase Option bulletin dated July 1, 2019 for details.
Policyholders are encouraged to call our Customer Service Team at 800-883-1127. Our team will be able to answer questions and provide policyholders with information regarding the Stable Premium Option, the 1% Benefit Increase Option and other ways they may be able to reduce premiums. 

In-Force Rate Action Announcement: Michigan (Privileged Choice®)