Question

All other factors being equal, which of the following provisions would result in the lowest premium for a long-term care insurance policy?

a) Comprehensive coverage
b) Low deductible
c) Longer waiting period
d) Increased policy limit

Answer 1

The provision that would result in the lowest premium for a long-term care insurance policy is a longer waiting period.

Step-by-step explanation:

The provision that would result in the lowest premium for a long-term care insurance policy is c) Longer waiting period. A longer waiting period means that the policyholder would have to wait for a longer period of time before the insurance benefits kick in. Since the insurance company would have to pay out less in claims due to the longer waiting period, they would charge a lower premium to the policyholder.