|Does my health effect my ability to get LTC?|
Long-Term Care Insurance Requires Medical Underwriting!
Companies selling long-term care look at your health and health history before they decide to issue a policy. You may be able to buy coverage through an employer or another type of group without any health underwriting or a more relaxed underwriting. The health underwriting practices involved with issuing long-term care policies affect the premiums they charge you now and in the future.
No matter how the company underwrites, you must answer certain questions used by the company to decide if it will insure you. When you fill out your application, be sure to answer all questions correctly and completely. A company depends on the information you provide to make decisions throughout the underwriting process. If the information is wrong, an insurance company may decide to rescind your policy and return premiums paid. This can be done usually within the first two years after buying the policy. Most companies will give you a copy of your application when the policy is delivered. The application is usually inserted in the back of the contract you receive.
Standard Medical Requirements When Applying for LTC!
Most Long-Term Care companies will require: Each carrier will have their own set of underwriting requirements and guidelines. You may be able to get coverage with one company but not with another. You should disclose all medical information with as much detail as possible to your representative. They will do their best to pre-qualify their medical history to prevent an adverse decision by carriers.
Disclaimer: Insurance products are
offered through insurance companies with which we have sales
arrangements. Not all products/features may be available in your
state. Check with your Accountant or Tax professional on the tax
issues associated with Long-Term Care insurance purchase and
benefits. Associates of Clifton Park are not a part of Raymond James
& Associates. Securities offered through Raymond James & Associates, Inc. Member FINRA/SIPC
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