Penn Treaty questions
Due to Penn Treaty’s deteriorating financial situation, the Pennsylvania Department of Insurance is acting as the rehabilitator (also called receiver) for the company and its subsidiary, American Network.
The company is not in liquidation, but might be later if the rehabilitation doesn't succeed. A court must grant approval for the company to enter liquidation.
- Penn Treaty provides long-term care insurance to more than 120,000 policyholders nationwide.
- Washington state has about 3,700 Penn Treaty policyholders.
What should I do with my Penn Treaty policy?
- Decide whether you want to keep your policy or cancel it.
- If you want to keep your policy, keep paying premiums.
- If you want to cancel it, stop paying premiums.
- If you want help deciding what to do, talk with your financial advisor or call the Penn Treaty receiver at 800-362-0700, ext. 3260
If I keep my Penn Treaty policy, will it still be good in a few years?
- Yes, as long as you pay your premiums.
- Your policy is guaranteed by the Washington Life and Disability Insurance Guaranty Association (www.walifega.org) for up to $500,000 worth of claims, depending on your policy limits.
Who to contact with questions
- Call the Penn Treaty receiver at 800-362-0700, ext. 3270 during business hours (Eastern Standard Time).