As a retiree, you can apply for Federal Long Term Care Insurance program coverage at any time or you can remain enrolled in a policy you took out previously.

However, you may wish to purchase other LTC insurance instead, perhaps dropping an existing FLTCIP plan. If you are considering this, bear several points in mind:

• If you already are enrolled in FLTCIP, coverage cannot be taken away from you, unless you stop paying premiums.

• Similarly, if you already are enrolled in FLTCIP, you will not have to undergo any further underwriting. Any new policy will require underwriting, and the older you get, the greater your chances are that you will not pass it and thus will not qualify for the coverage—or that the non-FLTCIP policy will charge you higher premiums because of your health.

• Premiums in all LTC insurance programs are based on the age at which the individual took out the policy. Simply put, the older you get, the less affordable it becomes to take out a new policy.