Which statement is true concerning premiums for individual long-term care insurance policies?

The statement regarding individual long-term care insurance premiums varying based on the insured's health status at the time of application is accurate. This is because insurers typically assess an applicant's health condition, medical history, and risk factors when determining premium rates. A person in good health may qualify for lower premiums, whereas those with pre-existing conditions or health issues may face higher costs due to the increased risk to the insurer.

This underwriting process is crucial in the insurance industry as it helps ensure that premiums are commensurate with the level of risk associated with each individual applicant. Other options may not apply universally: premiums are generally not fully refundable, tax deductions typically have specific criteria, and not all policies require upfront payment for the entire coverage period. Each of these factors emphasizes how health status plays a significant role in premium determination for long-term care insurance.