What NAIC Long-Term Care Insurance Model Regulation 641 - Rate Stability Standards, Contingent Nonforfeiture and Benefit Triggers requires
This model regulation establishes standards for long-term care insurance rate stability, requiring insurers to submit an actuarial certification with initial filings and justify any subsequent rate increases based on specific loss ratio experience (Section 6). It also mandates offering contingent nonforfeiture benefits to policyholders facing substantial premium increases and standardizes benefit triggers (Sections 8 & 9).
Pillar: Insurance & Risk · Authority: National Association of Insurance Commissioners (NAIC) · Version: 1.0.0 · Last updated:
Primary source: https://content.naic.org/sites/default/files/model-law-641.pdf
SHA-256 integrity: 6d7cefbb97f05f1c6a4c0bbcc5f21d592114b752205368d1d966bb0cc0c2e964
Primary Citations — 6 traced to source
- NAIC Long-Term Care Insurance Model Regulation 641, Section 6 - Rate Stability
- NAIC Long-Term Care Insurance Model Regulation 641, Section 7 - Actuarial Memorandum and Certifications
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