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Class

Quick Answer

A class is a group of people in a Long-Term Care Insurance policy having the same application date, policy form, sex, issue age, issue year, rate classification and state of issue in common. Since premiums with most Long-Term Care Insurance policies are intended to remain level, any approved rate increase by an insurance company can not impact just one person or a small group of persons, only a class of individuals.

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Detailed Answer

A class is a group of people in a Long-Term Care Insurance policy having the same application date, policy form, sex, issue age, issue year, rate classification and state of issue in common. Since premiums with most Long-Term Care Insurance policies are intended to remain level, any approved rate increase by an insurance company can not impact just one person or a small group of persons, only a class of individuals.

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