Trade Resources Industry Views Prudential Insurance Will Be Discontinuing The Sale

Prudential Insurance Will Be Discontinuing The Sale

Prudential Insurance will be discontinuing the sale of new group long-term care insurance policies in a bid to focus on providing products required by state law for a period of time.

The sales will be halted in all states except Indiana,Iowa,Kansas,Louisiana,and South Dakota,and is effective from 1 August 2012.

The company said that the group long-term care enrolments for the clients will be accepted until 30 June 2013.

The decision comes in line with the company's plan to enhance its long-term risk profile,longer-term goal of sustainable,profitable growth in its core group life and disability lines of business with appropriate returns.

Terms and conditions of coverage provided under existing group long-term care insurance certificates remain unchanged while the existing group long-term insurance care policies remain in place as long as premiums are paid on time,subject to regulatory approval.

Source: http://www.insurance-business-review.com/news/prudential-to-halt-group-long-term-care-insurance-coverage-sales-190712
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Prudential to Halt Group Long-term Care Insurance Coverage Sales
Topics: Service