In September 2013, we announced our intention to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. Read the full Genworth bulletin by clicking here.
We recently received approval for the rate increase in Minnesota as indicated in the chart below.
Product Series Increase Percentage
Privileged Choice 12.8%
Classic Select 12.8%
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 continue throughout the next year. Impacted policyholders will be notified at least 60 days in advance of their billing anniversary dates.
Agent Notifications Begin: April 29, 2014
Policyholder Notifications Begin: May 6, 2014