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

June 17, 2019 | by | Comments Off on 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.
Tags: Genworth, insurance, Long-Term Care, LTC, and premium increase.

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

June 13, 2019 | by | Comments Off on 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.
Tags: AARP, Genworth, insurance, Long-Term Care, and LTC.

California Licensing Fees Increased, Effective March 3, 2019

June 3, 2019 | by | Comments Off on 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.
Tags: CA, California, DOI, Genworth, licensing, Long-Term Care, and LTC.

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

June 3, 2019 | by | Comments Off on 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.
Tags: Genworth, Long-Term Care, LTC, and LTC Rate Increases.