Should Holders of Old Long-Term Care Insurance Policies Switch to New Ones?

Today's buyers of long term care insurance policies are enjoying many product features that were not available on policies sold even a few years ago. But there is a downside to that: Many persons have older policies with benefit limitations that newer policies often don't have. For instance, some policies sold in the 1990s specify that a beneficiary must be confined to a hospital for a certain period before they will pay for nursing home care. Others have absolutely no provision for home health care. And many older policies lack inflation protection. So should a policyholder ever transfer to a newer policy with more valuable benefits? The answer, almost always, is no, according to experts.

To read the full story:http://www.nationalunderwriter.com/LTC/articles/2004_08_ewire_switch.asp

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