MedAmerica has determined that the low interest rate environment has impacted their CareDirections Simplicity® product line that was priced in 2003 and launched in 2004 to the extent that a rate increase is necessary. While they initially exempted California’s Simplicity product from this rate action, further evaluation has indicated that rate action will also be necessary on the California product. As no carrier wants to be in a position of raising rates on products that are still on the market, they have decided to cease sale of CareDirections Simplicity® in California, effective April 19, 2013.
MedAmerica will accept applications with signature dates through April 19, 2013, received at their home office by April 30, 2013. Contact our LTC team today to learn more.