United of Omaha will be implementing a premium rate increase on the LTC06UI block of business. On January 1, 2016, we will begin implementation of the second premium rate increase on in-force business inNew Hampshire, South Dakota and Washington. For a complete list of accepted states and additional information on the LTCi rate adjustment, visit the designated LTCi rate adjustment page on Sales Professional Access (SPA).
LTC06UI Increase Effective Dates
|
State |
Effective Date |
Increase Amount |
| Michigan | November 1, 2015 |
18.6% |
| Missouri | December 1, 2015 |
18.6% |
| Nebraska | November 1, 2015 |
18.6% |
| New Hampshire | January 1, 2016 |
18.6% |
| South Dakota | January 1, 2016 |
18.6% |
| Washington | January 1, 2016 |
18.6% |
| Wisconsin | December 1, 2015 |
18.6% |
| Wyoming | November 1, 2015 |
18.6% |
Rate Increase Amounts
The premium rate increase was filed nationally, but the actual amount for each individual state will be based on the state approval. The filing was based on the following factors:
- Benefit Period
- Age
- Inflation Option
Keep in mind, policyholders who elect to pay the increased premium will likely be paying less than current products marketed today with similar benefits.
Policyholder Notification Process
Policyholders will receive a letter notifying them at least 60 days prior to the premium rate increase. Therefore, notifications will be mailed by November 1, 2015, to ensure policyholders in the accepted states receive notification of their January 1, 2016 premium rate increase.
Agent Notification
Your Impacted Policyholder Report is available on the LTCi rate adjustment page, reference the Tools section and select Impacted Policyholder Reports.
Software
Assured Quote software will be updated on November 1, 2015 allowing you to quote additional premium options for the LTC06UI.
If you have additional questions please contact Sales Support at (800) 693-6083 or e-mail sales.support@mutualofomaha.com.
For the original Mutual of Omaha communication on this topic, click here.