(AL, DE, OK, ME) Policyholders to be Notified of ILTC1 Premium Rate Increase
Prudential Long-Term Care had announced earlier last year its intent to file with state insurance regulators for a premium rate increase on ILTC1 long-term care insurance policies, its first generation product. Responses were recently received from the states of Alabama, Delaware, Maine and Oklahoma, permitting LTC to move forward with implementation of the change in premium.
At this time, we want you to be aware that we are preparing to mail notification letters to affected policyholders in the states of Alabama, Delaware, Maine and Oklahoma. Copies of the letters will be sent to producers prior to the policyholder mailings on Monday, March 26, 2012. You are not required to take any action, but may do so at your discretion. The letter will include the new premium amount that will become effective on the next billing date following the effective date of June 1, 2012 for the states of Alabama, Delaware, and Oklahoma. The effective date for Maine ILTC1 policyholders is July 1, 2012.
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(AL, DE, OK, ME) Policyholders to be Notified of LTC By Design Premium Rate Increase
Prudential Long-Term Care had announced earlier last year its intent to file with state insurance regulators for a premium rate increase on LTC By Design long-term care insurance policies,its second generation product. Responses were recently received from the states of Alabama, Delaware, Maine, and Oklahoma, permitting LTC to move forward with implementation of the change in premium.
At this time, we want you to be aware that we are preparing to mail notification letters to affected policyholders in the states of Alabama, Delaware, Maine and Oklahoma. Copies of the letters will be sent to producers prior to the policyholder mailings on Monday, March 26, 2012. You are not required to take any action, but may do so at your discretion. The letter will include the new premium amount that will become effective on the next billing date following the effective date of June 1, 2012 for the states of Alabama, Delaware, and Oklahoma. The effective date for Maine LTC By Design policyholders is July 1, 2012.