What Happens if I Stop Paying Premiums?

As with most other types of insurance coverage, if you stop paying your long term care insurance premiums, your policy will most likely be canceled.

However, there are some plans that offer a Non-forfeiture Benefit. A Non-forfeiture Benefit provides protection if you cancel your coverage. Non-forfeiture provides limited benefits, typically based on the amount of time you've had the coverage and the amount of premium payments you've paid.

Other plans offer a Contingent Non-forfeiture Benefit. This benefit provides protection if you are no longer able to pay premiums due to a premium increase to a certain level.

The Federal Long Term Care Insurance Program (FLTCIP) includes a Contingent Non-forfeiture Benefit at no extra cost.