Which of the following statements regarding replacement of long-term care (LTC) coverage is correct?

A. An individually-purchased LTC policy may not be replaced by a group LTC certificate of insurance.
B. The replacement policy may not contain a new waiting period if that has already been satisfied in the existing policy.
C. Replacement of an LTC policy for an insured over 70 years of age is a violation of the Unfair Competition statute.
D. If the existing LTC policy has been in force for more than 1 year, new pre-existing condition limitations are permitted.

Replacement of long-term care (LTC) coverage involves specific regulations to protect policyholders. Firstly, an individually-purchased LTC policy may not be replaced by a group LTC certificate of insurance. Secondly, the replacement policy may contain a new waiting period even if the existing one has been satisfied. Finally, if the existing LTC policy has been in force for more than 1 year, new pre-existing condition limitations are permitted.

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