Can I buy another long-term care policy if I reach my “Policy Limit”?

A question I am often asked is:  “If I buy a long-term care insurance policy with a 3-year Benefit Period, what happens if I go on claim and use up all of the policy’s benefits, but I continue to need care?  Can I buy another policy after the first policy runs out of benefits?”

Answer: If you go on claim and receive benefits totaling your “Policy Limit” and you still need care, you would not be able to purchase another long-term care policy or buy more coverage.  Since you still need care, you would be uninsurable and unable to qualify for another policy.

This is why it is important to consider buying a policy that qualifies under your state’s Long-Term Care Partnership program. If your policy is a “Partnership-Qualified Policy” you may be able to protect some, if not all, of your assets from Medicaid spend down and still have the state contribute towards the cost of your care.


About Scott A. Olson

Scott A. Olson, is the author of “The Guidebook for Making Long-Term Care Insurance Easier.” He is a licensed insurance agent and has specialized in long-term care insurance since 1995. He is licensed to sell long-term care insurance in over 40 states. Scott was born and raised in New Jersey and attended Rutgers University. Scott was a caregiver for a close relative for two years. That personal experience has made him acutely aware of how to help his clients design and choose a long-term care policy that will benefit them when they need it the most. Scott and his wife Carolyn live in Redlands, California. Scott and Carolyn have four sons.