NU Online News Service, March 9, 2005, 10:05 a.m. EST
Penn Treaty American Corporation, Allentown, Pa., says California regulators have approved its bid to sell its Personal Freedom 3 product in the state.[@@]
Personal Freedom 3 is an updated version of Penn Treaty’s principal long term care insurance product.
Penn Treaty says the policy will expand growth opportunities in a state that represents its second-largest market. The PF-3 and associated policy riders, which offer both facility and home health care coverage, are available in both a tax-qualified and non-tax-qualified format through its subsidiary, Penn Treaty Network America Life Insurance Company.
The company says it is also seeking approval of other LTC insurance products in California, including its stand-alone facility and home health care lines as well as its lower-cost LTC products.