exceptions under California law and probably in other states, so I recommend changing this to of the laws and regulations.” “most Page 13: many life insurance policies and annuity contracts offer benefits beyond “Also, acceleration of the death benefit.” For accuracy and clarity, the annuity payment” should be “or added after benefit.” “death Page 19: health care practitioner” Lay readers may not understand this term. I “licensed – recommend adding a definition in the glossary so people know it includes doctors. Page 21: It’s not clear what the difference is between the indemnity method and the disability method, as both pay a set amount. Also, drop in the disability method description. “not” Page 28: The first time is used, it would be helpful to spell it out and note the acronym in “ADL” parentheses. Page 32: that increase benefits for inflation automatically rates.” I don’t “Policies ‘compound’ think this is accurate. Policies can offer simple inflation options, as noted by the LTC Policy Checklist in the appendix. Page 38: protection can add 25% to 40% to the premium. . . . In fact, either of “Inflation options could easily double your premium.” This math sounds contradictory wouldn’t it take a – 100% addition to premium to double your premium?
exceptions under California law and probably in other states, so I recommend changing this to “most of the laws and regulations.” Page 13: “Also, many life insurance policies and annuity contracts offer benefits beyond acceleration of the death benefit.” For accuracy and clarity, “or the annuity payment” should be added after “death benefit.” Page 19: “licensed health care practitioner” – Lay readers may not understand this term. I recommend adding a definition in the glossary so people know it includes doctors. Page 21: It’s not clear what the difference is between the indemnity method and the disability method, as both pay a set amount. Also, drop “not” in the disability method description. Page 28: The first time “ADL” is used, it would be helpful to spell it out and note the acronym in parentheses. Page 32: “Policies that increase benefits for inflation automatically ‘compound’ rates.” I don’t think this is accurate. Policies can offer simple inflation options, as noted by the LTC Policy Checklist in the appendix. Page 38: “Inflation protection can add 25% to 40% to the premium. . . . In fact, either of options could easily double your premium.” This math sounds contradictory – wouldn’t it take a 100% addition to premium to double your premium?
cmte_b_senior_issues_181029_california_comments.docx