Filing at a Glance - State Corporation Commission

[Pages:334]SERFF Tracking #: WAKE-130294793 State Tracking #: WAKE-130294793

Company Tracking #: KEGAFAINDEDLTCRIVA

State:

Virginia

Filing Company:

TOI/Sub-TOI:

LTC03I Individual Long Term Care/LTC03I.001 Qualified

Product Name:

Ind Educator LTC RI

Project Name/Number: American Fidelity Assurance Company/KEGAFAINDEDLTCRIVA

American Fidelity Assurance Company

Filing at a Glance

Company: Product Name: State: TOI: Sub-TOI: Filing Type: Date Submitted: SERFF Tr Num: SERFF Status: State Tr Num: State Status: Co Tr Num:

Implementation Date Requested: Author(s): Reviewer(s): Disposition Date: Disposition Status: Implementation Date:

American Fidelity Assurance Company Ind Educator LTC RI Virginia LTC03I Individual Long Term Care LTC03I.001 Qualified Rate 11/12/2015 WAKE-130294793 Closed-Approved WAKE-130294793 Approved KEGAFAINDEDLTCRIVA

12/01/2017

Katlyn Gorman, Ben Cohen, Bonnie Taylor Janet Houser (primary) 10/11/2017 Approved

PDF Pipeline for SERFF Tracking Number WAKE-130294793 Generated 10/13/2017 02:09 AM

SERFF Tracking #: WAKE-130294793 State Tracking #: WAKE-130294793

Company Tracking #: KEGAFAINDEDLTCRIVA

State:

Virginia

Filing Company:

TOI/Sub-TOI:

LTC03I Individual Long Term Care/LTC03I.001 Qualified

Product Name:

Ind Educator LTC RI

Project Name/Number: American Fidelity Assurance Company/KEGAFAINDEDLTCRIVA

American Fidelity Assurance Company

General Information

Project Name: American Fidelity Assurance Company Project Number: KEGAFAINDEDLTCRIVA Requested Filing Mode: Review & Approval Explanation for Combination/Other: Submission Type: New Submission Overall Rate Impact: 60%

Deemer Date: Submitted By: Katlyn Gorman

Status of Filing in Domicile: Authorized Date Approved in Domicile: Domicile Status Comments: Market Type: Individual Individual Market Type: Filing Status Changed: 10/11/2017 State Status Changed: 10/11/2017 Created By: Katlyn Gorman Corresponding Filing Tracking Number: State TOI: LTC03I Individual Long Term Care

Filing Description: SUBMISSION RATE INCREASE FILING LONG TERM CARE POLICY FORM NUMBERS: QLTC-02 AFA, AMDI-220, AMDI-221, AMDI-222, AMDI-223

Wakely Actuarial has been authorized to file the above captioned filing on behalf of American Fidelity Assurance Company.

This is a rate increase filing for an existing rate stabilized Long Term Care form and attached riders. The purpose of this rate increase filing is to demonstrate that the requirements for your state have been satisfied. This rate increase filing is not intended to be used for any other purpose.

The Company is requesting a 60.0% increase in the premium rates for policies with a lifetime or unlimited benefit period and 0% for policies with a non-lifetime benefit period. Since this policy and rider forms are not actively being marketed, this rate increase will apply to inforce business only.

The proposed effective date is January 1, 2016.

We appreciate the Department's time and consideration in the review of this filing for American Fidelity Assurance Company.

Company and Contact

Filing Contact Information Katlyn Gorman, Administrative Assistant 33920 US Hwy 19 N Suite 151 Palm Harbor, FL 34684

katlyn.gorman@ 888-590-5504 [Phone] 2100 [Ext] 727-373-4559 [FAX]

PDF Pipeline for SERFF Tracking Number WAKE-130294793 Generated 10/13/2017 02:09 AM

SERFF Tracking #: WAKE-130294793 State Tracking #: WAKE-130294793

Company Tracking #: KEGAFAINDEDLTCRIVA

State:

Virginia

Filing Company:

TOI/Sub-TOI:

LTC03I Individual Long Term Care/LTC03I.001 Qualified

Product Name:

Ind Educator LTC RI

Project Name/Number: American Fidelity Assurance Company/KEGAFAINDEDLTCRIVA

American Fidelity Assurance Company

Filing Company Information

(This filing was made by a third party - WAS01)

American Fidelity Assurance

CoCode: 60410

Company

Group Code:

2000 North Classen Blvd

Group Name:

Oklahoma City, OK 73106

FEIN Number: 73-0714500

(800) 654-8489 ext. [Phone]

State of Domicile: Oklahoma Company Type: State ID Number:

Filing Fees

Fee Required?

No

Retaliatory?

No

Fee Explanation:

PDF Pipeline for SERFF Tracking Number WAKE-130294793 Generated 10/13/2017 02:09 AM

SERFF Tracking #:

WAKE-130294793

State Tracking #:

WAKE-130294793

State: TOI/Sub-TOI: Product Name: Project Name/Number:

Virginia

Filing Company:

LTC03I Individual Long Term Care/LTC03I.001 Qualified

Ind Educator LTC RI

American Fidelity Assurance Company/KEGAFAINDEDLTCRIVA

Company Tracking #:

KEGAFAINDEDLTCRIVA

American Fidelity Assurance Company

Correspondence Summary

Dispositions

Status Approved

Created By Janet Houser

Created On 10/11/2017

Date Submitted 10/11/2017

Objection Letters and Response Letters

Objection Letters

Status

Created By

Info has been Janet Houser requested from company

Info has been Janet Houser requested from company

Info has been Janet Houser requested from company

Info has been Janet Houser requested from company

Info has been Janet Houser requested from company

Disapproved Janet Houser

Created On 09/18/2017 08/29/2017 08/16/2017 05/26/2017 07/13/2016 11/16/2015

Date Submitted 09/18/2017 08/30/2017 08/16/2017 05/26/2017 07/13/2016 11/16/2015

Amendments

Schedule Rate Rate Rate Rate Rate Rate Supporting Document Rate

Schedule Item Name Rate Page Rate Page Rate Page Rate Page Rate Page Rate Page Long Term Care Insurance Rate Request Summary

Rate Page

Response Letters Responded By Katlyn Gorman

Katlyn Gorman

Katlyn Gorman

Katlyn Gorman

Katlyn Gorman

Katlyn Gorman

Created On 09/19/2017 09/07/2017 08/17/2017 06/08/2017 05/09/2017 06/03/2016

Created By Katlyn Gorman Katlyn Gorman Katlyn Gorman Katlyn Gorman Katlyn Gorman Katlyn Gorman Katlyn Gorman

Katlyn Gorman

Created On 09/26/2017 09/21/2017 09/21/2017 09/21/2017 09/21/2017 09/21/2017 09/21/2017

06/03/2016

Date Submitted 09/19/2017

09/07/2017

08/17/2017

06/08/2017

05/09/2017

06/03/2016

Date Submitted 09/26/2017 09/21/2017 09/21/2017 09/21/2017 09/21/2017 09/21/2017 09/21/2017 06/03/2016

PDF Pipeline for SERFF Tracking Number WAKE-130294793 Generated 10/13/2017 02:09 AM

SERFF Tracking #:

WAKE-130294793

State Tracking #:

WAKE-130294793

Company Tracking #:

KEGAFAINDEDLTCRIVA

State: TOI/Sub-TOI: Product Name: Project Name/Number:

Virginia

Filing Company:

LTC03I Individual Long Term Care/LTC03I.001 Qualified

Ind Educator LTC RI

American Fidelity Assurance Company/KEGAFAINDEDLTCRIVA

American Fidelity Assurance Company

Amendments

Schedule Rate Rate Rate Rate

Schedule Item Name Rate Page Rate Page Rate Page Rate Page

Filing Notes

Subject Rate Attachments Rate Request Summary Status Update Status Update Status Update Status Update RRS Act Review

Note Type Note To Filer Note To Filer Note To Filer Note To Reviewer Note To Filer Note To Reviewer Reviewer Note Reviewer Note

Created By Katlyn Gorman Katlyn Gorman Katlyn Gorman Katlyn Gorman

Created On 06/03/2016 06/03/2016 06/03/2016 06/03/2016

Date Submitted 06/03/2016 06/03/2016 06/03/2016 06/03/2016

Created By Janet Houser Janet Houser Janet Houser Katlyn Gorman Janet Houser Katlyn Gorman Janet Houser Janet Houser

Created On 09/26/2017 09/21/2017 07/10/2017 07/07/2017 07/07/2016 07/07/2016 10/11/2017 06/03/2016

Date Submitted 09/26/2017 09/21/2017 07/10/2017 07/07/2017 07/07/2016 07/07/2016

PDF Pipeline for SERFF Tracking Number WAKE-130294793 Generated 10/13/2017 02:09 AM

SERFF Tracking #:

WAKE-130294793

State Tracking #:

WAKE-130294793

State: TOI/Sub-TOI: Product Name: Project Name/Number:

Virginia

Filing Company:

LTC03I Individual Long Term Care/LTC03I.001 Qualified

Ind Educator LTC RI

American Fidelity Assurance Company/KEGAFAINDEDLTCRIVA

Company Tracking #:

KEGAFAINDEDLTCRIVA

American Fidelity Assurance Company

Disposition

Disposition Date: 10/11/2017 Implementation Date: Status: Approved

Comment: In approving this filing, the Company is reminded that pursuant to 14VAC5-200-153 D, it is required to provide updated experience for the next three years comparing the actual results to the results that the Company projected in justifying the rate increase. We would expect this filing to be made no later than April 1, 2020 and to include updated data through 2019.

Company

Name: American Fidelity Assurance Company

Overall % Indicated Change: 16.000%

Overall % Rate Impact: 30.000%

Written Premium Change for this Program: $40,889

Number of Policy Holders Affected for this Program: 92

Written Premium for this Program: $136,296

Maximum % Change (where req'd): 30.000%

Minimum % Change (where req'd): 0.000%

Schedule Supporting Document Supporting Document (revised) Supporting Document (revised) Supporting Document (revised) Supporting Document (revised) Supporting Document (revised) Supporting Document Supporting Document Supporting Document Supporting Document (revised) Supporting Document Supporting Document Supporting Document Supporting Document Supporting Document Supporting Document Supporting Document

Schedule Item Certification of Compliance L&H Actuarial Memorandum Long Term Care Insurance Rate Request Summary Authorization Letter Response Letter 6/2/2016 Rates Response Letter 5-9-2017 Response Letter 6/8/2017 Response Letter 8/17/2017 Response Letter 9/7/2017 L&H Actuarial Memorandum L&H Actuarial Memorandum L&H Actuarial Memorandum Long Term Care Insurance Rate Request Summary Long Term Care Insurance Rate Request Summary Long Term Care Insurance Rate Request Summary Long Term Care Insurance Rate Request Summary

Schedule Item Status

Received & Acknowledged Received & Acknowledged Received & Acknowledged Received & Acknowledged Received & Acknowledged Received & Acknowledged Received & Acknowledged Received & Acknowledged Received & Acknowledged Withdrawn Withdrawn Withdrawn Withdrawn Withdrawn Withdrawn Withdrawn

Public Access Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes

PDF Pipeline for SERFF Tracking Number WAKE-130294793 Generated 10/13/2017 02:09 AM

SERFF Tracking #:

WAKE-130294793

State Tracking #:

WAKE-130294793

State: TOI/Sub-TOI: Product Name: Project Name/Number:

Virginia

Filing Company:

LTC03I Individual Long Term Care/LTC03I.001 Qualified

Ind Educator LTC RI

American Fidelity Assurance Company/KEGAFAINDEDLTCRIVA

Company Tracking #:

KEGAFAINDEDLTCRIVA

American Fidelity Assurance Company

Schedule Supporting Document Supporting Document Supporting Document Supporting Document Rate (revised) Rate (revised) Rate (revised) Rate (revised) Rate (revised) Rate Rate Rate Rate Rate Rate Rate Rate Rate Rate Rate Rate Rate Rate Rate Rate Rate

Schedule Item Authorization Letter Response Letter 6/2/2016 Rates Response Letter 9/7/2017 Rate Page Rate Page Rate Page Rate Page Rate Page Rate Page Rate Page Rate Page Rate Page Rate Page Rate Page Rate Page Rate Page Rate Page Rate Page Rate Page Rate Page Rate Page Rate Page Rate Page Rate Page Rate Page

Schedule Item Status Withdrawn Withdrawn Withdrawn Withdrawn Approved Withdrawn Withdrawn Approved Withdrawn Withdrawn Withdrawn Withdrawn Withdrawn Withdrawn Withdrawn Withdrawn Withdrawn Withdrawn Disapproved Withdrawn Withdrawn Withdrawn Withdrawn Withdrawn Withdrawn Withdrawn

Public Access Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes

PDF Pipeline for SERFF Tracking Number WAKE-130294793 Generated 10/13/2017 02:09 AM

SERFF Tracking #: WAKE-130294793 State Tracking #: WAKE-130294793

Company Tracking #: KEGAFAINDEDLTCRIVA

State:

Virginia

Filing Company:

TOI/Sub-TOI:

LTC03I Individual Long Term Care/LTC03I.001 Qualified

Product Name:

Ind Educator LTC RI

Project Name/Number: American Fidelity Assurance Company/KEGAFAINDEDLTCRIVA

American Fidelity Assurance Company

Objection Letter

Objection Letter Status Objection Letter Date Submitted Date Respond By Date

Info has been requested from company 09/18/2017 09/18/2017

Dear Katlyn Gorman, Introduction:

The submission is DISAPPROVED and may not be used in the Commonwealth of Virginia.

Please address the following concerns:

Objection 1 - L&H Actuarial Memorandum (Supporting Document) - Long Term Care Insurance Rate Request Summary (Supporting Document) - Authorization Letter (Supporting Document) - Response Letter 9/7/2017 (Supporting Document) Comments: So that the most current information may be easily located, please attach a copy of the revised Actuarial

Memorandum submitted 9/7/17 to the L&H Memorandum in Supporting Documentation in SERFF. Before doing so, however, the memorandum must be updated for compliance with 14VAC5-200-153 B 3 (4) d. I apologize for not bringing this to your attention previously.

Please move the revised Long Term Care Insurance Rate Summary submitted on 9/7/2017 to that tab in Supporting Documentation. Before doing so, it would seem the average requested percentage rate increase would be a percentage between 0% and 30%. Please advise and update the form as well as the information on the Rate/Rule Summary in SERFF.

Conclusion: We shall be glad to reconsider this submission upon receipt of the information noted above. Should you need clarification of

any of the information contained in this letter, please contact the undersigned.

Thank you for your courtesy and consideration in this matter.

Sincerely, Janet Houser

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