Inforce LTCi Rate Adjustments Effective September 1, 2024

Mutual of Omaha actively monitors our inforce long-term care business, filing rate adjustments when necessary to ensure we keep our promises to policyholders and remain competitive in the marketplace.

We will be implementing the following inforce rate adjustments effective September 1, 2024:

Indiana

Policy Forms Impacted 2024 Overall Rate Increase
LTC04G 18.00%
LTC04I 18.71%
LTC04I7 16.22%
LTC09M 10.06%
LTC06UI 19.01%
LTC09U 12.50%
 

 
Oregon

Policy Forms Impacted 2024 Overall
Rate Increase
2025 Overall
Rate Increase
2026 Overall
Rate Increase
LTC04G 36.69% 17.67% 23.09%
LTC04I 36.16% 3.71% 23.22%
LTC04I7 38.00% 16.75% 22.89%
LTC09M 36.58% 6.29% 18.49%
LTC06UI 20.47% 5.00% 20.95%
LTC09U 36.24% 10.55% 18.85%
 

 
South Carolina

Policy Forms Impacted 2024 Overall Rate Increase
LTC04I 20.00%
LTC04I7 20.00%
LTC09M 15.00%
LTC06UI 15.00%
LTC09U 15.00%
 

Policyholder Notification Process
Policyholders will receive a letter notifying them at least 60* days prior to the premium rate increase effective date as outlined above.

Along with the premium rate increase notification letters, most policyholders will receive an adjustment offer if there are options available. The offer will provide the policyholder a benefit reduction alternative to help reduce the impact of the premium increase.

Tools Available
Additional resources are available on Sales Professional Access, including:

  • A list of impacted policyholders on the Reports page
  • Historical rate adjustment information by policy form on the Rate Adjustment page

For a complete list of affected policy forms as well as additional key information, including quoting best practices, please review the FAQ.

Long-term care insurance is a core product for Mutual of Omaha, and we intend to remain a key player in this market for years to come.

For any questions, please contact Mutual of Omaha’s Sales Support at (800) 693-6083.
 

Inforce LTCi Rate Adjustments Effective September 1, 2024
 

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