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 Program includes a Contingent Non-forfeiture Benefit at no
extra cost.
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