What Happens If You Cancel Long Term Care Insurance? 
If you cancel long term care insurance , you will no longer have the benefits provided by that policy . Long Term Care premiums have been going up , so if you change your mind and decide to apply for a new policy later , you may find yourself paying a lot more . Your premiums could also be higher on a new policy due to your increased age and/or a decline in health . Sometimes you can reduce your LTCI benefit or make other adjustments to lower the premium . It would be a good idea to look at the options available to you before making the decision to cancel your policy . 