September 2, 2022
As a reminder, the states of AZ, CT, FL, IN, and the District of Columbia now use the Enhanced version of EssentialLTC.
- For joint policies, when one insured passes away the premium will now decrease to an amount specified on the illustration and Policy Schedule for each person.
- The Waiver of Premium Rider for Home and Community Care Services is now built into the policy and premium when Comprehensive Coverage is selected.
- The 10-Year Premium Payment Option is now fully guaranteed and will never be subject to a rate increase.
- Florida now has a 10-Year payment option!*
- The underwriting rate classes will be consolidated into a single gender-distinct rate class called “Premier”. It is a simplified competitive offering with clearer underwriting expectations.
- The Employer Group rate class will still be available to approved employer groups in the states where it is available.
- The 5% employer group discount for Arizona and Florida is being replaced by the Employer Group rate class.
*Florida does not have a Single-Pay option
Streamlined Rider Selection
- Removed: The Step-Rated Compound Inflation Protection Rider
- Still Available: The Compound Inflation Protection Rider with 3% and 5% options
- Removed: The Full Return of Premium Rider
- Still Available: The Limited Return of Premium Rider
- Removed: The Full Return of Premium with Optional Policy Surrender Rider
- Still Available: The Limited Return of Premium with Optional Policy Surrender Rider
- Removed: The 0-Day Elimination Period
- Still Available: The 30, 90, and 180-Day Elimination Periods and the First Day HCCS Benefit Rider
All available riders can be found in our EssentialLTC Product Summary.
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