Which of the following statements is true about a guaranteed renewable long-term care policy?
A) Benefits are taxable.
B) Premiums are never tax deductible.
C) The policy is non-cancellable.
D) Premiums cannot be increased by the insurer unless they are increased for the entire rating class.
E) Premiums cannot increase for any reason.

Question

Quizplus · Accepted Answer

A guaranteed renewable long-term care policy allows the insurer to increase premiums, but only if the increase applies to an entire class of policyholders, not just an individual.

Which of the Following Statements Is True About a Guaranteed