RiverSource Life Insurance Company - Rate Filing
The purpose of this filing is to report on a statewide basis information regarding long-term care insurance policy replacements and lapses as required by the regulations of your state. Specifically, every insurer shall maintain records for each agent on that agent’s amount of long-term care insurance replacement sales as a percent of the agent’s total annual sales and the amount of lapses of long-term care insurance policies sold by the agent as a percent of the agent’s total annual sales. Two reports are included. One is for long-term care insurance products that are no longer marketed. The other is for an accelerated benefit rider for long-term care that is attached to life insurance products. In addition, we are including the claims denial reporting for an accelerated benefit rider for long-term care that is attached to life insurance products.