Allianz seeks LTCI rate increases

Allianz Life Insurance Company of North America is seeking permission to increase premiums an average of 25 percent on some long-term care insurance (LTCI) policies sold in Connecticut.

The rate increase requests would affect about 600 policies sold from 1993 through 2009.

Allianz Life stopped selling LTCI policies in 2010.

The company said the performance of the policies still in force in Connecticut has been worse than expected.