Health · Chapter 17 · Long-Term Care
LTC Provisions & Options
Definition
Waiver of premium while on claim (standard or optional w/ 90-day wait) · exclusions: war, self-inflicted, drug/alcohol treatment, mental/nervous disorders (organic diseases covered!), care outside the U.S., workers'-comp losses · third-party lapse notification (must be offered; waived in writing) · nonforfeiture options (reduced paid-up · shortened benefit period · return of premium) — must be OFFERED before issue · contingent nonforfeiture is built into tax-qualified policies against big rate hikes · return-of-premium riders refund unused premiums at death.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
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