Transamerica Long-Term Care Insurance Information Session

The Division of Insurance (Division) has been notified by Transamerica Life Insurance Company (Transamerica or Company) that the Company intends to file for a double-digit rate increase on the following long-term care insurance products that were originally issued by Monumental Life Insurance Company:

MLNHCCTQMAMH898,  

MLNHCCTQMA898,  

MLNHHCTQMAMH898,  

MLNHHCTQMA898, FPTQ(MA)99,  

FPTQ(MA-MH)99, L5TQ(MA)99,  

L5TQ(MA-MH)99, P-0001MA 4/98,  

P-0001MAMH498

The rates for these products were last increased in 2007 when an increase of 72.8% was permitted by the Division.  Considering that increase and the notification of the proposed filing, the Division has determined that it would be beneficial for interested parties and Transamerica to hold an information session during which the Company will provide information about why it believes it is necessary to submit a rate increase filing at this time. 

Any persons interested in participating in the virtual information session are able to attend by using the following link: Click here to join the meeting or call 857-327-9245 and enter ID: 400 494 496#

After the company has had a chance to respond to Division questions, the Division will listen to any comments that interested consumers may wish to make about the proposed rate increase filing.  Please note that in order to coordinate this virtual session, individuals will be asked to mute their phones to reduce background noise until they are permitted to speak.   

Policyholders who are unable to attend this information session may submit written comments to Kevin Beagan, Deputy Commissioner, Massachusetts Division of Insurance, at kevin.beagan@mass.gov or to Jackie Horigan, at Jackie.Horigan@mass.gov.