This filing is for a rate increase for the Critical Illness Policy form number 70620 and 70622. This is the first rate change for this policy. This change is for new business issued on or after 4/1/2012 or as soon as system modifications are available. Current in force business will not be impacted by this change.
There are two modifications to the rates. The current premiums are set up in 10 year age bands. The first change is to break these age bands into 5 year age bands. This results in a decrease for the first 5 years of the 10 age band and an increase for the last 5 years of the 10 year age band.
The second change is to add a flat $30 to each policy. This change is being added to ensure expense coverage at all face amounts.