What is distinctive about long-standing long-term care policies: how they may be more favourable than current products, how to locate a policy from decades ago, what to check in the terms and what to do when the document has been lost.
Why it is worth looking for the old one in particular
There is a natural tendency to assume a newer product is better. In long-term care insurance it is often the other way round.
Policies sold decades ago were written in a different era, before regulatory changes and before the market contracted. Some of them contain terms that are no longer common today.
The differences can appear in places that matter: the wording of the definition, the length of payment, the waiting period, or the absence of limits that exist in newer products. That is why we always recommend looking — even when it seems there is nothing there.
Where old policies hide
Searching for a policy from thirty years ago takes patience, but there are places where one often turns up.
- Cupboards and drawers at home — old folders, envelopes from insurance companies
- Bank statements — standing orders or recurring charges to insurance companies
- Old tax documents — contributions sometimes appear there
- Old payslips — cover through the workplace
- The Insurance Mountain — a starting point, though it does not necessarily show everything
- Writing directly to insurance companies the family remembers dealing with
When the document has been lost
A common situation: you know payments were made to a particular company, but there is no document at all. That is not the end of the road.
An insurance company is obliged to keep information about policies, and you are entitled to ask for the text of the policy that applied to the insured person. Write in, giving the insured person's details and the relevant period as far as it is known.
If you do not know which company is involved, you can start by searching the Insurance Mountain, and at the same time approach companies the family recognises from bank statements or from memory.
What to check when you find one
When an old policy text arrives, read it exactly as you would any policy — with particular attention to a few points that matter especially in older ones.
- Whether the sum is index-linked — in old policies this is the decisive question
- The length of payment — limited in time, or for as long as the condition continues
- The wording of the definition — sometimes more favourable than is usual today
- Whether the policy is still in force and what the position is on premium payment
- Whether the terms changed over the years and when
- Whether there is an age at which the cover ends
When the policy is no longer in force
Sometimes it emerges that the policy was cancelled or has lapsed. Even then it is worth establishing the circumstances rather than giving up at once.
The relevant questions: exactly when it lapsed, what the reason was, whether notice was given as required, and whether the long-term care condition began before the lapse.
If the condition began while the policy was in force, there may be a basis for a claim even though it lapsed afterwards. That is a point requiring the dates to be examined, and sometimes a legal review as well.
Frequently asked questions
Why is it worth looking for an old long-term care policy?
Long-standing policies were written before regulatory changes and sometimes contain favourable terms that are not common today — in the wording of the definition, the length of payment or the waiting period.
Where do you look for a policy from decades ago?
In old folders at home, in bank statements showing standing orders, in old payslips, on the Insurance Mountain, and by writing directly to companies the family remembers dealing with.
What do we do when the document has been lost?
Write to the insurance company and ask for the text of the policy that applied to the insured person in the relevant period. That is your right, and the company is obliged to keep information about policies.
What matters most in an old policy?
Above all whether the sum is index-linked — in old policies that is the decisive question — as well as the length of payment, the wording of the definition, and whether the policy is in force and premiums have been paid.
The policy has lapsed — is there nothing to be done?
Not necessarily. If the long-term care condition began while the policy was in force, there may be a basis for a claim. Check the dates, the reason for the lapse and whether notice was given as required.
Official sources for further checking
This is general information and does not replace personal medical, legal or insurance advice. Eligibility is determined by the documents and rules that apply to each case.
