Unum & MetLife Reach Agreements On Rate Increases For Florida Long-Term Care Policies

On January 12, 2017, the Florida Office of Insurance Regulation (FLOIR) reached a 10-year agreement on rate increases for long-term care insurance plans offered by Unum Group and Metropolitan Life Insurance Company. The agreement requires that the companies phase-in necessary rate increases over a three-year period, and then guarantee that there will be no further rate increases for the next seven years. For each of the three years that the approved rate increases will be phased in, the monthly premium increases range from $5 to $55 for Unum and from $4 to $44 for MetLife.

The . . .