For Our Policy Holders
An important message for policyholders of TIAA Life’s long-term care insurance
Whether your long-term care insurance policy has been transferred to MetLife* or continues to be insured by TIAA or TIAA Life, MetLife administers all long-term care insurance policies issued by TIAA and TIAA Life. MetLife can help with policyholder inquiries, premium collection, and reviewing and paying claims.
You can reach MetLife Long-Term Care Customer Service by calling 888-748-4824
About this change
We are no longer selling the long-term care insurance policies that were originally issued by either Teachers Insurance and Annuity Association of America (TIAA) or TIAA-CREF Life Insurance Company (TIAA Life) between 1992 and 2004.
In 2004, Metropolitan Life Insurance Company (MetLife) became the administrator and reinsurer of the policies. That means MetLife is responsible for premium collection and reviewing and paying claims.
Beginning in 2007, MetLife made an offer to policyholders and group certificate-holders to assume insuring responsibilities for their policies/certificates. Policyholders and group certificate-holders had the option to accept or reject this offer. If accepted, the terms and conditions of their policy/certificate remained the same, but MetLife became the direct insurer of the policy/certificate. If rejected, TIAA or TIAA Life remained the insurer, but MetLife retained administrative and reinsurance obligations.
Overall, the industry has been experiencing pricing challenges that have resulted in requests by insurers to increase premiums on long-term care insurance policies. The past experience and current assumptions differ from the initial assumptions used to price long-term care insurance policies.
These pricing challenges are not unique to MetLife, TIAA or TIAA Life. In 2012, the last premium rate increases took eect for some policies on their anniversary dates as a result of MetLife’s analysis of the experience on this block of business and our approval.
*MetLife refers to Metropolitan Life Insurance Company. Each of the foregoing is solely responsible for its own financial condition and contractual obligations.