October is Long-Term Care (LTC) Planning Month, and we’ve got a tip to make your plan go as smoothly as possible. The most obvious tip is to speak with one of our LTC specialists. They can consider your age, health, budget, and retirement goals and work with you to find the best insurance carrier and the best LTC product. If you have concerns about certain things you believe may prevent you from qualifying for a policy, our specialists will be able to help you create a plan for you to eventually get coverage.
Many LTC insurance carriers have acceptable weight ranges. Talking to a specialist will let you know if you need to make some lifestyle adjustments to get to the weight you desire to get the rates you want. For example, for a person who is 5’10”, Mutual of Omaha has a unisex minimum weight limit of 125 and a maximum weight of 202 for their Preferred class rating. Applicants can weigh up to 244 at that height for Select, and 279 for Class 1. OneAmerica, for the same height says applicants can weight up to 296 for expedited underwriting. Aetna doesn’t have any weight limits. Working with a specialist can let you know what you qualify for now, and what you may qualify for in the future if you make any changes.
Some people assume that if they have Diabetes, they won’t qualify for LTC. If you have Diabetes our specialists will ask further questions to check medications or any complications. Many carriers will work with the condition if it is under control. Transamerica will accept applicants with diabetes so long as they aren’t using insulin and there aren’t any other conditions being caused by the illness. Other carriers have additional specifications and our specialists can help you determine which option is best for you.
The c-word scares a lot of people off from applying for LTC. However, most carriers accept people who have had cancer, there’s usually just a time that it must be cleared. For example, OneAmerica says applicants must be finished with any and all treatments and cancer-free at least six months ago. The verbiage is very clear on each application, and our specialists will do the leg work so you don’t have to read each one.
“If you have concerns about certain things you believe may prevent you from qualifying for a policy, our specialists will be able to help you create a plan for you to eventually get coverage.”
High blood pressure – also known as Hypertension – is an issue many people struggle with. It’s also one that can lead to a lot of other health issues, leading people to believe that once again they won’t qualify for LTC. However, many of our insurance carriers will work with people who have hypertension. An example would be National Guardian Life, who will accept applications so long as their high blood pressure is consistently controlled with medications.
LTC Planning Month is a time to review all your options and see which best fits into your retirement vision. Speak to a specialist today to find out which carrier and product best fits your unique story and needs, and determine if LTC insurance is right for you today.