Long Term Care Issues-Can A Long Term Care Isurance Policy Be Reinstated if the Insured Forgets to Pay the Premium?

As people begin to age and have difficulties managing their affairs, they may forget to pay their Long Term Care Insurance premiums. I have seen this happen many times to individuals. This is a potentially devastating loss of critically important insurance coverage for obvious reasons. First, they have paid premiums for many years only to find that now when the benefits are needed, the need is the thing that caused the lapse. Second, because of age and infirmity, this valuable coverage is no longer available. Finally, because of the exorbitant cost of care, losing insurance coverage will create a huge financial strain.

Florida law recognizes this "catch 22". The law provides that if the insured person allowed the lapse to occur unintentionally due to a medical condition that prevented the payment of the premiums, the policy can be reinstated. Also, the law requires the insurer to advise the insured that premium and other important notices be sent, upon request, to a secondary addressee.

We have assisted many people in getting their policies reinstated. If you or a family member have suffered the lapse of a Long Term Care Policy, you may qualify for reinstatement. We can help. Call us at 305-868-1400.