If long term insurance is not used, does it roll over as a death benefit?

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Oct 23, 2011

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Insurance Question from Las Vegas, NV

Asked on 10/23/2011

If long term insurance is not used, does it roll over as a death benefit? If I don't use my long term insurance as a result of sudden death, do those funds collected become a death benefit that goes into my estate? Or, are those funds just lost?

Answer given on October 24, 2011

There are hybrid long term care policies that are now available that give you the traditional long term care coverage as well as a death benefit in the case that it is not used.  There are also riders that are now available that can be added to LTC policies, such as a Return On Premium Riders.  These riders can return the premium to you or a family member in the event you do not use the long term care coverage in a certain period of time–say 10 years. Without knowing the details and the coverage of your particular policy, I am unable to say if your policy has this hybrid coverage.  Contact the insurance company that issued your policy or the agent.  Ask if your policy has this hybrid coverage. Ask them to explain what will happen if you do not use the LTC coverage portion of your policy.  Also ask if they have a policy that will give these hybrid coverages or if you can convert your policy to one. Depending on your age and your health this might be doable.


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