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Industry News IMPORTANT: Discontinuation notice for new Lumico Med Supp business in North Carolina

IMPORTANT: Discontinuation notice for new Lumico Med Supp business in North Carolina

August 27, 2021

Discontinuation notice for new Lumico Med Supp business in North Carolina

Effective November 1, 2021, acceptance of new Med Supp applications (Plans A, F, G and N) underwritten by Lumico Life Insurance Company in the state of North Carolina (NC) will be discontinued.*

 

Here’s what you need to know:

  • Lumico is discontinuing new Med Supp sales to more effectively manage the cost of in-force policy administration.
  • Existing Lumico Med Supp policyholders with in-force coverage will not be affected by the discontinuation of new Lumico Med Supp sales in NC. They do not expect a direct or material impact to premiums.
  • They will continue to service Lumico Med Supp in-force policyholders in all states where Lumico is sold, and their guaranteed renewable contracts.
  • Here is a copy of the notice sent to Lumico Med Supp policyholders.

If you have any questions, please call 833-866-9741.

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Filed Under: Industry News, Medicare Division News

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