Long Term Care Insurance Center
Long Term Care Insurance Q & As
Question 9 of 9 in How Much Does It Cost
What should I consider before I swap an old policy for a new one?
Make sure the new policy is better. This may be most evident by a reduction in the conditions that must to be met before benefits are paid. For example, you may want to switch from a policy that requires a prior hospital stay or other prior levels of care to one that has no such requirements. The possible disadvantages include new pre-existing condition restrictions, new exposure to cancellation for misstatements in the application, and increased premiums base on your current age.