Determining the appropriate coverage for an individual seeking long-term care insurance is

Suitabilityin long-term care (LTC) insurance involves assessing an individual’s financial situation, health needs, and goals to determine the appropriate coverage, ensuring the policy meets their needs without being unaffordable or excessive. Oklahoma regulations (O.A.C. 365:10-5-40) emphasize suitability to protect consumers from inappropriate LTC products.

Option A: Incorrect. Coinsurance is a cost-sharing mechanism, not about determining coverage.

Option B: Correct. Suitability ensures the LTC policy is appropriate for the individual’s needs.

Option C: Incorrect. Contestability relates to the insurer’s ability to contest claims, not coverage selection.

Option D: Incorrect. Accountability is not a term for determining coverage appropriateness.