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Why are plans with a limited premium payment option not allowed to opt for the LTC conversion option benefit?

April 26, 2017allowed benefit conversion limited LTC opt option payment plans Premium

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Why are plans with a limited premium payment option not allowed to opt for the LTC conversion option benefit?

1 Answer

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10 Posted

In many cases the LTCI conversion option would not be attractive to paid-up CII policyholders as they would want to pre-fund their LTCI coverage and the LTCI conversion option does not provide pre-funding. If clients are interested in pre-paying their long term care plans we do offer a limited pay option on our stand-alone LTCI policy.