If you cancel long term care insurance, you will no longer have the benefits provided by that policy. Long Term Care premiums have been going up, so if you change your mind and decide to apply for a new policy later, you may find yourself paying a lot more. Your premiums could also be higher on a new policy due to your increased age and/or a decline in health.
Sometimes you can reduce your LTCI benefit or make other adjustments to lower the premium. It would be a good idea to look at the options available to you before making the decision to cancel your policy.
.JPG){kind=avatar}
Sometimes you can reduce your LTCI benefit or make other adjustments to lower the premium. It would be a good idea to look at the options available to you before making the decision to cancel your policy.