Long-Term Care Insurance FAQs

Top 5 Common Concerns

I’ve received a premium increase notice. Is this legal? Do rate increases have to be approved?

If your policy was issued in the State of Florida, all rate increases need to be approved by the Florida Office of Insurance Regulation. The company must give you at least a 45-day advance written notice of the premium increase. The company will also provide you with several options to help make your coverage more affordable.

I received a notice of rate increase, but the options listed in the letter are confusing.

You should call the number listed in your letter to get a clear understanding of what the options are and how they affect your coverage.

I filed a claim months ago and it has not been approved, what now?

Contact the company to find out what is causing the delay. If you’ve confirmed that all requested documentation has been submitted, then submit an insurance concern with our office.

I received notice my policy lapsed or was cancelled and the company refuses to reinstate it. What now?

All policies issued in this state are guaranteed renewable. This means the company cannot cancel it unless the premium is not paid timely. You are eligible to have the policy reinstated within 5 months after cancellation if the lapse was unintentional and the policy holder was diagnosed with a cognitive impairment or a loss of functional capacity. The company must offer the option to list a Secondary Addressee that will receive lapse notices. The company is not allowed to cancel a policy for nonpayment unless they have provided the notice of lapse 30 days prior to the policy holder and Secondary Addressee, if named.

Should I purchase long term care insurance?

Our Long-Term Care Guide has helpful information to consider.