Life Secure: Temporarily Halting Hospital Recovery Insurance New Business Sales in 33 States
In order to comply with recent regulatory changes, LifeSecure will temporarily cease sales of the Hospital Recovery Insurance product in 33 states, effective May 1, 2015.
See below for complete state list.
We plan to offer a refreshed/repriced “2.0” version of the individual Hospital Recovery Insurance product in many of these states later in 2015. The new product will continue LifeSecure’s commitment to simplicity, flexibility and innovation, which is maintained in the new product design.
You and your clients will appreciate the coverage enhancements in the next generation product, including…
Coverage for dependents
Hospital length of stay coverage increasing from 15 to 30 days
Three optional plan riders:
Emergency Room & Ambulance Benefit
Major Diagnostic Exams Benefit
Rehabilitation Facility Benefit
States Ceasing Hospital Recovery Insurance Sales – Effective May 1, 2015
Alabama
Idaho
Nevada
Tennessee
Alaska
Illinois
New Mexico
Texas
Arizona
Iowa
North Carolina
Utah
Arkansas
Indiana
North Dakota
West Virginia
Colorado
Kentucky
Oklahoma
Wisconsin
Delaware
Louisiana
Oregon
Wyoming
District of Columbia (DC)
Mississippi
Rhode Island
Georgia
Missouri
South Carolina
Hawaii
Nebraska
South Dakota
IMPORTANT NOTES for the states of FL, MI and OH:
FLORIDA – The current Hospital Recovery 1.0 insurance product will remain available for sale until further notice.
MICHIGAN & OHIO – The new Hospital Recovery 2.0 product is currently available for sale in these states.
FAQs
When is the deadline to submit a Hospital Recovery Insurance application in the
states listed above?
Applications may be entered online at www.YourLifeSecure.comthrough midnight (ET) on April 30, 2015.
Will existing Hospital Recovery Insurance policies remain in force?
Yes, the decision to temporarily cease new business sales will not impact existing
policyholders.
