All ____ policies must be guaranteed renewable.

• A. Health
• B. Life
• C. Long-term care
• D. Annuity

Answer: (C)

Long-term care policies are designed to cover needs that can last many years, so the guarantee of renewability is essential. Guaranteed renewal means the insurer cannot cancel or refuse to renew the policy due to aging or health, as long as premiums are paid. The insurer may raise premiums, but only for all policyholders within the same class, not just for an individual. This protection ensures you’ll have ongoing access to benefits when you might need care for a long time, which is exactly the kind of long-duration risk LTC coverage is meant to address. Other policy types don’t carry this same statutory requirement for guaranteed renewability; they have different renewal terms and protections, so the guaranteed-renewal rule is specific to long-term care policies.