State RegulationsMI specificDifficulty 1/5
Under Michigan's long-term care inflation protection rule, a guaranteed periodic increase option must be available to the policyowner without requiring:
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
The guaranteed periodic increase right under M.C.L. 500.3909, within Michigan's long-term care chapter (M.C.L. 500.3901 to 500.3955), must be available without evidence of insurability. That design is deliberate: health typically declines as care needs grow, so conditioning benefit increases on new underwriting would strip the right of value precisely when the insured needs it most.
Why the other options are wrong
- A) Additional premium may be required for added benefit; what the statute removes is the insurability requirement, not the cost.
- B) The increase right operates within the existing policy; replacing the policy is not part of the requirement.
- D) Nothing in the inflation protection rule involves altering the policy's elimination period.
Memory hook
Increase without underwriting: no health questions, just the option to grow benefits.