While long term care insurance is paid for with money, it is bought with your health.  Many consumers are surprised to learn that long term care insurance is not like health insurance where everyone is accepted.  It is more like life insurance where you have to prove your health before you can buy a policy.

Many carriers have changed their medical requirements to qualify for a policy over the past two years.  We saw an increase in 2014 of consumers who wanted to buy long term care insurance, but at the same time carriers were more strict about who they would sell it to.  We have seen now that carriers are loosening their requirements in 2015.  That is great news for consumers as more will be able to get this valuable coverage.

We performed a study of our book of business and found that the approval rate in 2015 for long term care insurance has increased by 10% since 2014.




Average Placement Rate




What this means for consumers is that now is a great time to apply for long term care insurance.  While the general requirements to qualify for long term care insurance are still based on your age and health, your chances of getting a policy have improved.  The key is to apply with the right carrier, as some carriers will accept a specific health condition while others will not.  Working with a person who specializes in long term care insurance is vital as they know what carriers are most likely to offer a policy for different conditions.

LTC Consumer is an independent, free online service to help consumers understand what long term care insurance is, how it works, and how to evaluate coverage options. Our mission is to provide an educational, no-pressure resource for learning about long term care planning, with the opportunity to speak with specialists who can help them.