Carleton, Inc.
Consumer Lending Software

Compliance Alert,  December 9, 2016

State Law Changes

MASSACHUSETTS

The Commissioner of Insurance issued Bulletin 2016-15 on November 29, 2016 publishing new deviated case rates for Motor Vehicle Dealers.  The bulletin established the rates for the period from January 1, 2017 to December 31, 2019.

Credit Life Insurance

Single Life                 

$ .45 per month per $1,000 of coverage

Joint Life                    

$ .72 per month per $1,000 of coverage (160% of single rate)

Accident and Health                                

$.42 per $100 per annum for first 48 months

$.30 per $100 per annum for next 36 months

$.15 per $100 per annum for each year thereafter.

Posted on Dec 09, 2016