Long-Term Care insurance (LTCi) is a core product for Mutual of Omaha and we intend to remain a key player in this market for years to come. In order to fulfill this commitment, we actively monitor emerging industry trends as well as our own experience so we can make the adjustments necessary that will allow us to keep our promises to policyholders and remain competitive in the marketplace.
For this reason, we will be implementing the following rate adjustment effective Dec. 1, 2016:
| Block of Business | Impacted States |
| LCA, LCAQ, NCA, NCAQ | California |
For a complete rate history, see the state approval grid on Sales Professional Access.
Policyholder Notification Process
California requires that Policyholders receive a letter notifying them at least 75 days prior to the premium rate increase. Notification to affected policyholders will be mailed by September 9, 2016 to ensure policyholders in the approved states receive notification of their December 1, 2016 premium rate increase. Along with the premium rate increase notification letters, most policyholders will receive an adjustment offer if there are options available. The offer will provide the policyholder a benefit reduction alternative to help reduce the impact of the premium increase.
Tools Available
To assist in answering customer’s questions or providing alternative premium options the following tools are available on the dedicated LTCi Rate adjustment page on Sales Professional Access:
- Impacted Policyholder Reports are currently available
- Rate Calculator for the LCA, LCAQ, NCA and NCAQ blocks of business
Additional resources are also available on the dedicated LTCi Rate Adjustment page on Sales Professional Access. For any questions, please contact Sales Support at (800) 693-6083 or sales.support@mutualofomaha.com.
For the original announcement, click here.