Content Overview
- Summary
- Amount Of Coverage
- The Insurance Company's Financial Status And Claims Reputation/Service
- Amount Of The Premium
- Payment Options
- Whether The Policy Is Tax Qualified
- The Range Of Services Which Are Covered
- Where Services Can Be Provided
- Length Of Time Benefits Are Payable
- Waiver Of Premiums
- The Trigger For Qualifying For A Benefit
- The Waiting (Elimination) Period
- Renewability Provisions
- Inflation Adjustments
- Guranteed Purchase Option
- Notice Of Late Payment
- Non-Forfeiture Provisions
- For Married Couples And Domestic Partners: Shared Care, Survivorship Benefit
What To Look For When Purchasing A Long Term Care Insurance Policy
Renewability Provisions
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Long Term Care Insurance policies can and should be guaranteed renewable - which means that in addition to guaranteed renewability, premiums cannot be increased based on your health or claims. Premiums can be raised if they are raised for all policyholders in your class.
Some policies guarantee no increase in premium for a defined period of time, such as five years.
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