Upcoming Lumico Med Supp rate adjustment on 9/1

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Upcoming rate adjustment for Med Supp

Effective September 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 (CO, LA, MS and NC)

  • New policies will continue to be underwritten by Lumico in: CO. Please note the following cut off dates:
    • Applications signed on or after 8/1/23, with a requested effective date on or after 9/1/23, will be subject to the new rate.
    • Applications signed on or before 7/31/23, with a requested effective date on or after 9/1/23, will receive the current rate.
  • No new policies will be underwritten by Lumico in: LA, MS and NC. Policies in these states will continue to be underwritten by Elips Life.

For Elips Life states (CA, LA, MS, ND, SC and TN)

  • New policies will continue to be underwritten by Elips Life in these 6 states. Please note the following cut off dates:
    • Applications signed on or after 8/1/23, with a requested effective date on or after 9/1/23, will be subject to the new rate.
    • Applications signed on or before 7/31/23, with a requested effective date on or after 9/1/23, will receive the current rate.

Thank you!
Lumico Medigap Solutions Team
 

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