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A long-term care policy issued to an individual must contain a renewability provision that prominently appears on the first page of the policy. Renewal provisions may not be less favorable than guaranteed renewable or noncancellable. The insurers who issue LTC policies may not cancel, nonrenew or otherwise terminate coverage solely on the grounds of the age or deterioration in mental or physical health of the insured.
The NAIC model regulations for long-term care insurance require that all insurers maintain and make available to the applicants the Long-term Care Insurance Personal Worksheet. On the premium section of the worksheet, the insurer must disclose all rate increases for all policies issued by the insurer or purchased from another insurer. The worksheet must also include a statement informing consumers of the availability of the rate guide that compares the policies sold by different insurers.