MetLife LTC to begin Phase 15 implementation of in-force rate action on May 11, 2015.
Phase 15 Impacts LTC97 individual policies in New York.
In October 2012, we announced that we would be filing, where required, for a rate increase on our two newer individual policy series, VIP2 and LifeStage Advantage (LSA), as well as an additional rate increase on our two older individual policy series, LTC97 and VIP1, which were subject to an earlier rate increase that we announced in 2008. This decision was largely driven by cumulative changes in actuarial assumptions since the initial pricing of our products. Our actions help ensure that we’re able to deliver on our promises to our policyholders.
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