Prudential LTCi News
Producers May Now Quote Standard III Rating Class
04-09-2010
Prudential Long-Term Care is committed to continually reviewing our underwriting guidelines and criteria to ensure that we are keeping pace with the latest medical and technological advancements and providing our clients with the best features and benefits we can possibly offer with our products. The Standard III rating class was previously granted only in certain circumstances and had not been available for producers to quote with our illustration software (PruQuote). We are now pleased to announce that effective immediately, producers may quote the Standard III rating classification for high risk applicants.
The Standard III rating class was previously granted only in certain circumstances and had not been available for producers to quote with our illustration software (PruQuote). We are now pleased to announce that effective immediately, producers may quote the Standard III rating classification for high risk applicants which include the following conditions:
• Height and weight within Standard III guidelines (refer to Underwriting Guidelines)
• Those near upper weight maximum in Standard II range with a co-morbid condition
• Type I diabetes, well-controlled and higher risk Type II diabetes (refer to Underwriting Guidelines for specifics)
• Significant heart disease with ejection fractions at least 35%
• Significant emphysema/chronic obstructive pulmonary disease where pulmonary function tests (FEV1) are 40% or greater (no oxygen usage)
• Osteoporosis, stable, with T-scores between -3.5 and - 4.0
Please note that Standard III rates are approximately 150% of Standard I rates. Rating classifications are always at the discretion of the Underwriter. Also note that the following limited benefits apply to the Standard III rating class:
• No more than 3 years
• No more than $200 per day
• No less than 90-day Elimination Period
• No cash benefit riders
• No shared care
Submitting an Application for Standard III
The Producer’s Statement of the application booklets is being updated. In the interim, when submitting an application for a Standard III prospective client, it is acceptable to write in “Standard III” for item 5 of the Producer’s Statement.
If you have any questions, please contact BUA.
