When purchasing a long-term-care policy,___________.
A)the optional renewability provision is recommended
B)the guaranteed renewability provision is recommended
C)the non-renewability provision is recommended
D)the automatic renewability at reduced premium is recommended

Question

When purchasing a long-term-care policy,___________. ​
A)the optional renewability provision is recommended
B)the guaranteed renewability provision is recommended
C)the non-renewability provision is recommended
D)the automatic renewability at reduced premium is recommended

Quizplus · Accepted Answer

The guaranteed renewability provision is recommended because it guarantees that the policyholder can renew their policy each year without being denied coverage or having their rates increased due to changes in their health status. This is especially important for a long-term-care policy which is typically purchased when the individual is in good health, but may require care in the future as they age. The renewability provision ensures that the policy will be in place when it is needed.

When Purchasing a Long-Term-Care Policy,___________. ​

When Purchasing a Long-Term-Care Policy,___________.