What is the minimum requirement for partnership-qualified long-term care insurance policies?

Partnership-qualified long-term care insurance policies are designed to meet specific criteria that allow policyholders to protect their assets while also receiving long-term care benefits. One of the key minimum requirements for these policies is that they must be guaranteed renewable. This means that the insurer cannot cancel the policy or refuse to renew it as long as the premiums are paid. This requirement provides valuable security for policyholders, ensuring that they can maintain coverage over time and are protected against any potential changes in their health status.

In addition to being guaranteed renewable, partnership-qualified policies must also meet other criteria, such as offering certain levels of benefits and adhering to state-specific regulations. The other options listed do not align with the core requirements of partnership-qualified long-term care insurance policies. For example, not all medical conditions need to be covered, dental care is not a mandatory inclusion for these policies, and cash benefits are not a minimum requirement. The emphasis on guaranteed renewability is critical as it directly impacts the policyholder's long-term security in accessing necessary care without the risk of losing coverage.