Arthur Rudnick
Guru
- 1,652
Looks like Pru has finally joined the party.
This was just announced yesterday:
Pru will be filing to adjust their rates on their current LTC3 product going forward. They will also be filing for rate increases on their original ILTC1 series and their last series, LTC By Design. Additionally, they will be removing a few benefit options and adding a few. Below are the details of what's being filed for their LTC3 product:
5% Cmpd inflation rider - 40% increase
5% Cmpd 2x rider - 22% increase
3% Cmpd rider - 11% increase
5% Simple rider - 16% increase
Both GPO and No Inflation will remain the same
90 day elim period will increase by 6%
30 day elim period will increase by 9%
2 & 3yr benefit periods will remain the same
All higher benefit periods will increase by 9%
The 150% home care rider will increase by 21%
They will be discontinuing the offering of the following on their LTC3 product:
No more full cash benefit rider
No more flex cash rider
No more Lifetime (Unlimited) benefit period - max will be 10 years
These above changes will take on April 6th.
They will be adding the following to their LTC3 portfolio:
1 year benefit period in the states that will allow it
2% and 4% Compound inflation options
The increase they're filing on their first generation product (ILTC1) will average 23%. 18% on reimbursement plans and 32% on cash plans
The increase they're filing on their last product, LTC By Design, will average 18%. 15% on reimbursement plans and 30% on cash plans
This was just announced yesterday:
Pru will be filing to adjust their rates on their current LTC3 product going forward. They will also be filing for rate increases on their original ILTC1 series and their last series, LTC By Design. Additionally, they will be removing a few benefit options and adding a few. Below are the details of what's being filed for their LTC3 product:
5% Cmpd inflation rider - 40% increase
5% Cmpd 2x rider - 22% increase
3% Cmpd rider - 11% increase
5% Simple rider - 16% increase
Both GPO and No Inflation will remain the same
90 day elim period will increase by 6%
30 day elim period will increase by 9%
2 & 3yr benefit periods will remain the same
All higher benefit periods will increase by 9%
The 150% home care rider will increase by 21%
They will be discontinuing the offering of the following on their LTC3 product:
No more full cash benefit rider
No more flex cash rider
No more Lifetime (Unlimited) benefit period - max will be 10 years
These above changes will take on April 6th.
They will be adding the following to their LTC3 portfolio:
1 year benefit period in the states that will allow it
2% and 4% Compound inflation options
The increase they're filing on their first generation product (ILTC1) will average 23%. 18% on reimbursement plans and 32% on cash plans
The increase they're filing on their last product, LTC By Design, will average 18%. 15% on reimbursement plans and 30% on cash plans