Stacks of mail sit on your kitchen table and one envelope in particular bothers you. Your long term care insurance company is telling you that you “lapsed”, forgot to make a payment and your policy has been canceled. Unfortunately it’s been 4 months since the lapse date and you previously paid for the policy for 20 years. Is there anything you can do? I will say that it depends on the situation. A client of mine missed payment due to memory loss that had not been diagnosed. In speaking with the long term care insurance company I was advised that if I would obtain a physician’s letter verifying the memory loss and stating that the non-payment was unintentional it may be possible to re-instate the policy. I went through the process and after 4 months the policy was reinstated pending payment of all past due amounts. Know that in these types of situation it is possible to have policies reinstated provided that the non-payment has not gone past an extensive period and the individual is still reasonably healthy, i.e. just some short term memory loss.

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