In-Force Rate Action Announcement: Iowa (Privileged Choice® and Classic Select®)

> Privileged Choice® and Classic Select® 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. Iowa has now allowed the following increases: Iowa non-AARP Product Series Increase Percentage Privileged Choice 27.3% phased 17.9%, 8.0% cumulative Classic Select 27.3% phased 17.9%, 8.0% cumulative   Iowa AARP® Product Series Increase Percentage Privileged Choice 30% phased 17.9%, 10.26% cumulative Classic Select 30% phased 17.9%, 10.26% cumulative   These rate
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Nevada (Choice 1)

> Choice 1 with Stable Premium 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. Nevada has now allowed the following increases: Nevada Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods Choice 1 64.3% phased 18%, 18%, 18% cumulative 82.48% phased 22%, 22%, 22% cumulative   Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: New Mexico (Privileged Choice® and Classic Select®)

> Privileged Choice® and Classic Select® 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. New Mexico has now allowed the following increases: New Mexico Product Series Increase Percentage Privileged Choice 6% Classic Select 6%   This rate increase applies to non-AARP and AARP policies. Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the start
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: New Stable Premium Option for Privileged Choice® and Classic Select® Policyholders

To help mitigate the impact of current and future planned premium increases, we are providing an additional coverage option for most of our Privileged Choice and Classic Select policyholders to consider when faced with a premium increase. Beginning on July 1, 2019, the new Stable Premium Option Endorsement will be available in states where it’s allowed. The Stable Premium Option provides a guarantee that the new premium associated with the Stable Premium Option will not increase until at least 2024, along with the following specific set of benefits1: A three-year benefit period for individual policies and a six-year benefit period
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: New 1% Benefit Increase Option for Privileged Choice® and Classic Select® Policyholders

As part of our continued effort to provide additional coverage options to our policyholders who are facing a premium increase, we are introducing a new coverage option for eligible Privileged Choice and Classic Select policyholders to consider. Beginning on July 1, 2019, the 1% Benefit Increase Option will be available in state where it’s allowed. The 1% Benefit Increase Option will be available for Privileged Choice and Classic Select 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
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Missouri (PCS II)

> PCS II with Stable Premium 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. Missouri has now allowed the following increases: Missouri Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods PCS II 55% 72%   This rate increase applies to non-AARP, non-partnership policies only. Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the start
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Kentucky (Privileged Choice® and Classic Select®)

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. Kentucky has now allowed the following increases: Kentucky Non-AARP Product Series Increase Percentage Privileged Choice 35% Classic Select 35%   Kentucky Non-AARP Product Series Increase Percentage Privileged Choice 41.84% phased 20%, 18.2% cumulative Classic Select 41.84% phased 20%, 18.2% cumulative   This rate increase applies only to policies that include a simple or compound Benefit Increase Option (BIO). Communications Timeline Servicing agents will receive a list
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Categories: Genworth, Industry News, and Long-Term Care.

California Licensing Fees Increased, Effective March 3, 2019

As a reminder, per California Bulletin No. 2018-4, the California Department of Insurance (DOI) has increased its licensing fees by 10 percent for all insurance producers and insurers operating within the state of California, effective March 3, 2019. Attached is the new fee schedule for your convenience. If you have any questions, please contact the CA DOI Licensing Hotline at (800) 967-9331.   California Licensing Fees Increased, Effective March 3, 2019   #goldencareagent #genworth
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Missouri (Pre-PCS)

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. Missouri has now allowed the following increases: Missouri Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods Pre-PCS 39% 99%   This rate increase applies to non-AARP, non-partnership policies only. 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 June
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Categories: Genworth, Industry News, and Long-Term Care.