OmniFlex ™ Short-Term Care Frequently Asked Questions Rates Continued Does OmniFlex™ pricing increase after issue based on age bands? This is an ISSUE AGE product. Rates do not increase as the customer gets older. Is OmniFlex™ Issue or Attained age? Issue age. What are the OmniFlex™ Modal Premium loads? Besides the Semi-Annual premium mode (a factor of .52 X Annual premium), the other premium modes do not have any premium loads. Annual = 1.0; Quarterly = 0.25; Monthly = 0.0833 Can the rates on in-force OmniFlex™ plans ever increase? Every insurance company that offers a limited indemnity benefit Short-Term Care product could file for a premium increase with the state department of insurance. Benefits How does the optional Simple Inflation benefit work? The Accrued Daily Benefit available to the policyholder starts at 50% of the elected Daily Benefit at the time of purchase. The Accrued Daily Benefit then increases each policy anniversary date per the chart example on the next page. So, a $200 daily benefit starts at $100 and increases over the next 5-years until it reaches $200. Example:
$500
$400
$300
$200
$100
$0 0 1 2 3 4 5 6 7 8 9 10111213141516171819202122232425 Policy Anniversary Date
With the Simple Inflation Benefit, your daily benefit grows to $400 at policy anniversary date #25. At policy anniversary date #5, your daily benefit grows to $200.
Can a policyholder receive both Fast-50 and Indemnity benefits at the same time? No. It’s either one or the other.
STC-FAQ_0925
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