This is not a simple “yes or no” question given several factors that could come into play including:
- Has your medical status changed since you first purchased the LTCi policy?
- Have your or your family’s needs changed since you first purchased the policy?
- Are you concerned about your current carrier’s financial viability and/or their commitment to the long term care marketplace?
- Given the increasing cost of extended care services, does your policy include the correct level of benefits and most up-to-date plan provisions (such as inflation protection)?
For help evaluating your options, please speak with our LTC Specialists to review your policy and options. Under no circumstances should you cancel your current Genworth policy before being formally approved for a new policy.