Long-Term Care Insurance Rate Filing - United of Omaha Life Insurance (Individual)
Rate request – 19.8 percent increase
Decision – Rejected on August 17, 2012
On June 19, 2012, United of Omaha Life Insurance Company requested an overall rate increase of 19.8 percent for several of its long-term care plans. It was the first rate increase the company sought on these policies and there are currently fewer than 20 policies in force in Connecticut. After an actuarial review, the Department rejected the request on Aug. 17, 2012, determining that the actual demand for benefits and company’s cost of those benefits were well below what the company projected in its original pricing.
Content Last Modified on 8/17/2012 3:47:27 PM