Compliance Alerts

Compliance Alert 

September 15, 2016 (Rev. 11/7/16) - OHIO

The Ohio Department of Insurance has issued a memorandum revising prima facie credit insurance rates effective January 1, 2017.  Credit Life rates decrease 7.0% and credit A&H decrease 15.7%. 


Credit Life Rates

Single Premium Decreasing Term Life

   
Single Decreasing Life Coverage .41/$100/ @ 12 Months
Single Level Life Coverage .75/$100/ @ 12 Months
Joint Decreasing Life Coverage .71/$100/ @ 12 Months
Joint Level Life Coverage $1.31/$100/ @ 12 Months


Outstanding Balance Life

   
Single Life Coverage $.627 per month per $1,000 of coverage
Joint Life Coverage $1.097per month per $1,000 of coverage
Joint life rates are 175% of corresponding single life rates.

 

Credit A&H Rates (OH)

Prima Facie A&H Rates
Per $100 of Initial Insured Indebtedness

14 Day 30 Day
Mos. Retro Elim Retro Elim
12 1.32 1.15 .99 .70
24 1.66 1.48 1.21 .99
36 1.90 1.73 1.36 1.15
48 2.09 1.93 1.48 1.25
60 2.27 2.09 1.58 1.36
72 2.44 2.25 1.66 1.45
84 2.58 2.39 1.75 1.53
96 2.72 2.55 1.83 1.60
108 2.85 2.67 1.90 1.69
120 2.98 2.78 1.97 1.75