I was reading an online “newspaper” the other day. There was an article about long term care insurance and the importance of planning for the financial consequences of needing long term care.
I like to read the comments at the end of articles. I often find the comments more interesting than the article itself. I was surprised that a number of people left comments believing that only those with “perfect health” could qualify for long term care insurance. Nothing could be further from the truth!
Since 1995 I’ve helped hundreds of people with health problems obtain quality long term care insurance policies, from highly rated insurers, at affordable prices. The key is knowing each long term care insurer’s “underwriting nuances”.
For example, one long term care insurer might not insure someone who has had a Transient Ischemic Attack (aka T.I.A. or “mini-stroke”) in the past 5 years. Whereas another long term care insurer can insure someone who has had a “mini-stroke” just 12 months ago.
An application submitted to the first insurer would result in an automatic declination. An application submitted to the second company would most likely be approved.
This is an over-simplified example, but it illustrates the central point: Most of the leading long term care insurers have very different ways of determining who is insurable and who is not insurable.
Is there hope for someone who has been declined for long term care insurance? ABSOLUTELY!