In most states, long-term care insurance policies
sold today must be guaranteed renewable. When a policy is guaranteed renewable,
it means that the insurance company guarantees you a chance to renew the policy.
It does not mean that it guarantees you a chance to renew at the same premium.
You premium may go up over time as your company pays more and larger claims.
Insurance companies can raise the premiums on their
policies but only if they increase the premiums on all policies that are the
same in that state. No individual can be singled out for a rate increase, no
mater how many claims have been filed. In some states, the premium can't
increase just because you are older.
If you bought a policy in a group setting and you
leave the group, you may be able to keep your group coverage or convert it to an
individual policy buy you may pay more. You can ask your state insurance
department if your state requires this option.