Try: When purchasing ltc insurance it is important to consider including a guaranteed renewability provision of the contract if a policy is guaranteed renewable the insurance company cannot change your benefits if you pay your premiums on time but it can increase your premium on a policy anniversary as long as it makes a similar premium increase for your entire class of policyholders this provision is important because of possible future changes in ltc and the general longer time frame before benefits are claimed although a guaranteed renewability provision may increase the cost of premiums it is important to make sure the insurance purchaser will have coverage in the future also consider state laws as they may also dictate under what circumstances insurance policies may be canceled

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*This information is listed as a Fact Sheet and is not explicitly medically licensed