Each year, the original Partnership states (CA, CT, IN and NY) revisit and adjust minimum benefit requirements to qualify for their Partnership programs. The following information outlines the changes for 2017.
The minimum benefit requirements for Partnership in California will change for 2017. The table below illustrates the changes:
|Minimum Daily Benefit||$190||$210|
|Minimum Monthly Benefit||$5,890||$6,510|
CT and NY Partnership minimum requirements are based on the date of application.
Indiana Partnership minimum requirements are based on the policy effective date. Applicants who choose the Conditional Insurance Agreement, provide the necessary premium and meet underwriting requirements will be issued policies with an effective date that matches their date of application. Genworth must ensure that Partnership policies issued January 1, 2016, or later meet the new minimum benefit requirements. Therefore, to allow for mailing and underwriting time, applicants who choose a later effective date should include a benefit amount that meets the 2017 requirements in their state.
Please note that our quote tools will be updated on 1/16/17 to reflect the new Partnership minimum amounts. It is very important to be sure you use the new 2017 minimums when quoting premiums for Partnership policies that will be applied for on 1/1/17 or later.
UPDATE: 2017 Partnership Minimum Benefit Requirements for CA, CT, IN and NY
> Related: 2017 Partnership Minimum Benefit Requirements for CA, CT, IN and NY