State RegulationsMI specificDifficulty 1/5
A 'guarantee of insurability' option attached to a long-term care policy allows the insured to:
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
A guaranteed insurability option lets the insured buy additional benefits at scheduled times regardless of health changes — no evidence of insurability is required. Michigan's long-term care chapter (M.C.L. 500.3901 to 500.3955) governs such riders, and the same concept appears in the inflation-protection offer required by M.C.L. 500.3909.
Why the other options are wrong
- A) The return right is the 30-day free look under M.C.L. 500.3943, not tied to this rider.
- B) Benefits are still payable only when the policy's eligibility triggers are satisfied.
- C) Assigning a policy to Medicaid is not what this option does.
Memory hook
Guaranteed insurability = buy more later, no health questions asked.