sample cover long term care insurance policy advice law advice insurance advice community law advice case evaluation ask lawyer amp legal topics legal topics accident law bankruptcy law business law criminal law employment labor law estate planning family law financial law general practice government law immigration law insurance law intellectual property litigation malpractice law personal injury real estate law tax law small claims admiralty maritime aviation law insurance law topics insurance law topics insurance law basicsauto insurancebusiness insurancelong term caredisability insurancehealth insuranceinsurance bad faith life insurance lawproperty insuranceviaticals advice law advice insurance law long term care current sample cover long term care insurance policy written freeadvice staff insurance claim denied delayed case evaluation call comment following sample wording cover typical long term care insurance policy design cover vary company substance similar wording required state federal law sample life insurance company sample life pay benefits policy provisions long term care insurance policy renewability policy guaranteed renewable life premium rates subject change means right subject terms policy continue policy long pay premiums time change terms policy consent may change premium rates subject applicable state insurance department approval change premium rates apply policies class state policy issued schedule benefits provided policy shown policy eligible dividends important notice please read the application attached policy carefully check application write sample life insurance company box anytown ny days shown correct complete past medical history left application application part policy policy issued basis answers questions shown application correct complete comment guaranteed renewable life means insurance company reason cancel policy increase premiums policy called non cancelable insurance company reason cancel policy increase premiums insurance company changes premium rates policy issued force rates changed class basis words premium policy class issued state policy issued changed based actuarial formula class means underwriting class mean things based insurance risk category determined insurance company may simple age group gender policy type occupation special criteria may broader inclusive category based example risk analysis preferred standard substandard underwriting class premium level time initial underwriting insurance company determines class based assessment degree risk present company example policy issued preferred mean company considered good safe insurance risk company decides change insurance premiums type policy proposed rate changes filed insurance departments states company wants changes insurance departments look things review rate change filings reasonable justifiable second insurance company plan apply rate change insured classes change proposed words example insurance department want sure rate increase issued type policy preferred basis important notice please read the application attached policy carefully check application write sample life insurance company box anytown ny days shown correct complete past medical history left application application part policy policy issued basis answers questions shown application correct complete comment clear warning responsible accuracy application insurance important notice gives days correct misinformation application words gives second chance inaccurate result mistake agent inadvertently reports incorrectly notice tells application part policy words part legal contract insurance company states policy issued assumption answers application correct complete insurance company telling relied provided application decided issue policy wording attempt provide company sound basis rescinding canceling policy application false false usually discovered claim filed medical records received connection claim contradict application notice buyer policy may cover costs associated long term care incurred buyer period coverage buyer advised review carefully policy limitations comment encouraged read entire contract sure provides exactly thought going provide kind insurance great chasm exists applicant thinks getting based discussions agent delivered sure read policy receive policy intended qualified long term care insurance contract section b internal revenue code amended future determined policy meet requirements internal revenue code reasonable effort amend policy required order gain favorable federal income tax treatment offer opportunity receive amendments appropriate adjustments determined sample life premium rates and benefits comment respects long term care insurance policy different normal health insurance policy example provide benefits treatment improve health basically provides coverage maintenance services having medical care policy meets certain requirement internal revenue code premiums paid benefits received treated tax purposes accident health insurance provision assures federal rules change company try comply apply policy joan smith senior vice president secretary harry andrews chairman board president ceo day right examine policy please read policy carefully legal contract sample life satisfied reason may return policy sales representative bought days date receive return day period policy void refund premium paid days receive returned policy basic day look provision required state ties nicely provisions insurance claim denied delayed case evaluation call view related sample long term care policy provisions articles view faq insurance legal topics insurance attorney ask lawyer looking social read articleslong term care premium payments grace periodsnursing hospice facility assisted living facility benefitspolicy riders lapse rider contingent benefits contingent nonforfeiture coverageprocessing claims physical examination denials paymentsrespite care benefitssample cover long term care 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Sample Cover Page for Long Term Care Insurance Policy Free Advice Law Advice Insurance Advice Community Law Advice Free Case Evaluation Ask a Lawyer Q amp A Legal Topics All Legal Topics Accident Law Bankruptcy Law Business Law Criminal Law Employment Labor Law Estate Planning Family Law Financial Law General Practice Government Law Immigration Law Insurance Law Intellectual Property Litigation Malpractice Law Personal Injury Real Estate Law Tax Law Small Claims Admiralty Maritime Aviation Law Insurance Law Topics All Insurance Law Topics Insurance Law BasicsAuto InsuranceBusiness InsuranceLong Term CareDisability InsuranceHealth InsuranceInsurance Bad Faith Life Insurance LawProperty InsuranceViaticals Free Advice Law Advice Insurance Law Long Term Care Current Page Sample Cover Page for Long Term Care Insurance Policy Written by FreeAdvice Staff Insurance Claim Denied or Delayed Click here for a FREE Case Evaluation or call COMMENT The following is sample wording for the cover page of a typical long term care insurance policy The design of the cover page will vary from one company to another but the substance will be similar because much of the wording is required by state or federal law Sample Life Insurance Company Sample Life will pay the benefits of this Policy according to its provisions Long Term Care Insurance Policy RENEWABILITY THIS POLICY IS GUARANTEED RENEWABLE FOR LIFE PREMIUM RATES ARE SUBJECT TO CHANGE This means You have the right subject to the terms of the Policy to continue this Policy as long as You pay Your premiums on time We cannot change any of the terms of this Policy without Your consent except that We may change the premium rates subject to applicable state insurance department approval Any such change in premium rates will apply to policies in the same class as Yours in the state where this Policy was issued The Schedule of Benefits provided by this Policy is shown on page This Policy is not eligible for dividends IMPORTANT NOTICE Please read the copy of the application attached to this Policy Carefully check the application and write to Sample Life Insurance Company P O Box Anytown NY within thirty days if any information shown on it is not correct and complete or if any past medical history has been left off of the application This application is part of the Policy and the Policy was issued on the basis that answers to all questions and the information shown on the application are correct and complete COMMENT Guaranteed renewable for life means that the insurance company cannot for any reason cancel your policy But it can increase your premiums If the policy were what is called non cancelable then the insurance company could not for any reason cancel your policy OR increase your premiums If the insurance company changes the premium rates on your policy after it is issued and in force the rates can only be changed on a class basis In other words the premium for every policy in the same class that was issued in the same state where your policy was issued will be changed based on the same actuarial formula Class means underwriting class which can mean many things all based on an insurance risk category determined by the insurance company This may be something as simple as age group gender policy type occupation or other special criteria or it may be a broader more inclusive category based for example on an over all risk analysis such as Preferred Standard and Substandard Each underwriting class has its own premium level At time of initial underwriting the insurance company determines your class based on its assessment of the degree of risk you present to the company In the example if your policy was issued as Preferred that would mean the company considered you a good safe insurance risk If the company decides to change insurance premiums on your type of policy the proposed rate changes must be filed with the insurance departments in the states where the company wants to make the changes Insurance departments look for two things when they review rate change filings First are they reasonable and justifiable second does the insurance company plan to apply the rate change to every insured in the classes where the change is proposed In other words in the above example the insurance department will want to make sure that the rate increase will be the same for all those who were issued your type of policy on a Preferred basis IMPORTANT NOTICE Please read the copy of the application attached to this Policy Carefully check the application and write to Sample Life Insurance Company P O Box Anytown NY within thirty days if any information shown on it is not correct and complete or if any past medical history has been left off of the application This application is part of the Policy and the Policy was issued on the basis that answers to all questions and the information shown on the application are correct and complete COMMENT This is a very clear warning that makes you responsible for the accuracy of the information on your application for insurance This IMPORTANT NOTICE gives you thirty days to correct any misinformation on the application In other words it gives you a second chance Often inaccurate information is a result of a mistake when the agent inadvertently reports your information incorrectly The NOTICE also tells you that the application is part of the policy In other words it is part of the legal contract between you and the insurance company Then it states that the policy was issued on the assumption that the answers and other information on the application are correct and complete The insurance company is telling you that it relied on the information you provided on the application when it decided to issue your policy This wording is an attempt to provide the company with a sound basis for rescinding or canceling your policy if information on the application later is found to be false False information usually is discovered when a claim is filed and medical records received in connection with the claim contradict information on the application NOTICE TO THE BUYER This Policy may not cover all of the costs associated with long term care incurred by the Buyer during the period of coverage The Buyer is advised to review carefully ALL policy limitations COMMENT You are encouraged to read the entire contract to be sure it provides exactly what you thought it was going to provide Often with any kind of insurance a great chasm exists between what the applicant thinks he or she is getting based on discussions with the agent and what actually is delivered You should be sure to read through the policy when you receive it This Policy is intended to be a qualified long term care insurance contract under Section B b of the Internal Revenue Code of as amended If in the future it is determined that this Policy does not meet the requirements of the Internal Revenue Code We will make every reasonable effort to amend the Policy if We are required to do so in order to gain favorable federal income tax treatment We will offer You an opportunity to receive these amendments with any appropriate adjustments as determined by Sample Life to premium rates and and or benefits COMMENT In many respects a long term care insurance policy is different than your normal health insurance policy For example it does not provide benefits for treatment to improve health but basically provides coverage for maintenance services some of which having nothing to do with medical care However if the policy meets certain requirement of the Internal Revenue Code premiums paid and benefits received will be treated for tax purposes as though they were for accident and health insurance This provision assures that if federal rules change the company will try to comply with them if they apply to this policy Joan A Smith Senior Vice President and Secretary Harry T Andrews Chairman of the Board President and CEO Thirty Day Right to Examine Policy Please read this Policy carefully It is a legal contract between You and Sample Life If you are not satisfied for any reason You may return this Policy to Us or to the sales representative from whom You bought it within thirty days from the date You receive it If You return it within the thirty day period this Policy will be void from the beginning We will refund any premium paid within thirty days after We receive the returned Policy This is your basic day free look provision which required by every state It ties in nicely with some of the other provisions Insurance Claim Denied or Delayed Click here for a FREE Case Evaluation or call View Related Sample Long Term Care Policy and Provisions Articles View the Next FAQ Insurance Homepage All Legal Topics Find a Insurance Attorney Ask a Lawyer Didn't find what you were looking for Make it Social Must Read ArticlesLong Term Care Premium Payments Grace PeriodsNursing Home Hospice Facility and Assisted Living Facility BenefitsPolicy Riders 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