Can you Refund Unused LTCI Benefits?


The recent report shows that 7 out of 10 of people who are 65 and above will require long term care. Meanwhile, around 41% of people below 65 will also require the same type of care due to illness, injury and disability. This only shows that everyone is at risk of needing ltc and getting coverage is the best way to deal with this. But what if you purchase ltc insurance and you didn’t use your benefits? Can you refund your premiums?

Yes, it’s possible to refund your unused benefits given that you have a return of premium rider. This rider comes with an expensive price tag but it’s something you can consider if you’re buying coverage. Return of premium rider works this way, the unused benefits will be refunded to the heir or family of the policyholder. The amount of money you can refund depends on the type of rider you purchase. Some will only refund a percentage of your premiums based from your age, others will only return what’s left of your benefits if you used some of it and then another type of rider can return all your premiums.

If you’re one of those people who are concerned about long term care insurance benefits refund, you can learn more information here:


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