No insurer or agent may replace a policyholder's Long-Term Care insurance policy with one that offers:

The rationale behind the answer, which states that no insurer or agent may replace a policyholder's Long-Term Care insurance policy with one that offers fewer benefits and a greater premium, is based on the principle of protecting consumers from losing valuable insurance coverage.

Long-term care insurance is designed to provide vital financial support for individuals needing assistance with daily living activities due to chronic illness, disability, or age-related conditions. If an agent were to suggest a replacement policy that offers fewer benefits while increasing the costs, the policyholder would be at a disadvantage. They would not only incur a higher financial burden but also lose coverage that might be more beneficial in the long run.

Such practices are typically regulated to ensure that consumers are not misled or harmed by changes in their insurance agreements that do not serve their best interests. Insurers and agents are required to prioritize the policyholder's welfare by ensuring that any new policy provides at least comparable benefits, maintaining or improving the level of coverage while considering affordability and value.