Long Term Care Guild

When an offer to increase one's LTC coverage arrives in the mail..

what should the insured person consider?

1. This means they did not choose the automatic inflation option (5% or 3%), but the less expensive option for periodic increases in coverage (future purchase option or guaranteed purchase option).   Their premium will not be level as they increase their coverage because the offer is based on their current age (increasing age).  

2. Nevertheless, this offer is excellent because they may not be as healthy as when they bought the policy and this offer is guaranteed to be made to them anyway.  

3.  However, there is an important consideration - the offers will stop if they decline two consecutive times.  

4.  Recommendation:   Accept the offer AT LEAST every other time.  The trick is keeping track of this as the offers are every 3 years.   

5. I can not help with their book-keeping, but I can explain how this works and that it is a positive feature of their policy to take advantage of, unless they have already purchased $300/day!     


Amy Rickman


Lockton Dunning Benefits

Dallas, Texas

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