Premium change for SureBridge branded Prime DVH
After nearly three years of success in the Dental-Vision-Hearing market, the time has come to adjust pricing on The Chesapeake Life Insurance Company Prime DVH product. This premium change will better position the product against rising costs and help ensure its continued success in the DVH space. Effective January 6, 2023, rates for the SureBridge branded Prime DVH plan will be adjusted for new business and existing policies that have been in force for more than 12 months in the states of CO, IA, MS, NC, TN.
Even with this upcoming adjustment, we expect the Prime DVH plan to remain very competitive in the Dental-Hearing-Vision product landscape. See how we stack-up against current competitors below.
More on SureBridge branded Prime DVH Premium Change
Who does this change affect?
- In the indicated states, customers with policies in force for at least 12 months will see their rate adjusted on their premium payment due on or after January 6, 2023 (based on their premium due date).
- For policies in force fewer than 12 months, premium adjustment will occur on the first premium due date following their first policy anniversary.
- New quotes and applications for Prime DVH will reflect the new rates in the POS tool starting January 6, 2023.
How is this being communicated to customers?
- A letter is mailed between 31-75 days in advance (depending on the state) notifying the Prime DVH customer of the rate change, when it will take effect and the increase amount.
What is the premium change?
- Increases will vary by state, but generally range from 14-28%.
Will this change affect plan benefits or commissions?
- There are no changes to Prime DVH plan benefits.
There are no changes to commission. Commissions are structured as a percentage of premium and those percentages will remain the same.
Questions?
Contact SureBridge Producer Support by calling 888-797-4447, or by emailing: AgentCommunications@SureBridgeInsurance.com.
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