Upcoming Lumico Med Supp rate adjustment on 8/1

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Upcoming rate adjustment for Med Supp

Effective August 1, there will be a rate adjustment for Med Supp policies underwritten by Lumico Life Insurance Company (Lumico) and Elips Life Insurance Company (Elips Life).

For Lumico states (AZ, GA, MI, MN, MT, NE, NJ, OH, SC and TX)

  • New policies will continue to be underwritten by Lumico in: MN, MT and NJ. Please note the following cut off dates:
    • Applications signed on or after 7/1/23, with a requested effective date on or after 8/1/23, will be subject to the new rate.
    • Applications signed on or before 6/30/23, with a requested effective date on or after 8/1/23, will receive the current rate.
  • No new policies will be underwritten by Lumico in: AZ, GA, MI, NE, OH, SC and TX. Policies in these states will continue to be underwritten by Elips Life.

For Elips Life states (AR, AZ, DE, GA, IA, MI, MO, NC, NE, OH, OK, PA, SD, TX, UT and WI)

  • New policies will continue to be underwritten by Elips Life in these 16 states. Please note the following cut off dates:
    • Applications signed on or after 7/1/23, with a requested effective date on or after 8/1/23, will be subject to the new rate.
    • Applications signed on or before 6/30/23, with a requested effective date on or after 8/1/23, will receive the current rate.

Thank you!
Lumico Medigap Solutions Team
 

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