From LifeSecure:
Designating a third party to receive notices under an LTCi policy could mean the difference between your client losing valuable coverage or keeping it active. If chosen, a “lapse designee” will receive any notice of an unintended lapse or termination of a policy due to non-payment of premium.
While each client’s circumstances are different, in many cases an applicant chooses a family member or trusted friend to serve as their lapse designee. To add this protection, simply include the designee’s information in the “Protection Against Unintended Lapse or Termination” section of the application.
Note: LifeSecure does not permit the selection of a LifeSecure-appointed agent to serve as the lapse designee.