Reinstatement for Cognitive Impairment

The buzz surrounding Long Term Care insurance today is the Reinstatement for Cognitive Impairment clause. In layman’s terms, this clause states that if you miss a premium payment because of reduced mental capacity, Alzheimer’s, or dementia, the policy can be put back in force with no medical questions.

Some insurance carriers add new features to existing policies, others do not. It pays to review your Long Term Care insurance policy to determine whether it provides a Reinstatement for Cognitive Impairment clause or if this and other valuable benefits are excluded from your existing plan.