Effective State Changes

INDIANA

In Bulletin 246, the Indiana Insurance Commissioner adjusted credit life and A&H rates effective January 1, 2019. The discount rate used for credit life is 1.99%. The discount rate used for accident and health is 1.59%.

Credit life prima facie rates for monthly outstanding balance are increased to:

• $0.71 per month per $1000 of outstanding insured debt on single life
• $1.18 per month per $1000 of outstanding insured debt on joint life

The adjusted A&H rates represent a 15% reduction in current A&H coverage. The 12-month rate per $100 of Initial Insured Indebtedness will be as follows:

• 14 Retro:  $1.50
• 14 Elim:    $1.05
• 30 Retro:  $1.03
• 30 Elim:    $0.77

Effective January 1, 2019.

SOUTH CAROLINA

On October 31, 2018, the South Carolina Department of Insurance published Order 2018-06 confirming Prima Facie Credit A&H rates for 2019. The A&H rates for 2019 will remain unchanged from their current rates in 2018. The 12-month rate for $100 of Initial Insured Indebtedness will be as follows:

• 14-day Retro: $1.53
• 30-day Retro: $1.44

Pursuant to Order 2018-05, the 3-day retroactive A&H rate will remain at $0.28 per $5.00 of monthly indemnity.

Effective January 1, 2019.