LONG TERM CARE
When the unexpected happens and you are no longer able to care for yourself, how will you afford care in your home, in an assisted living facility or in a nursing home without liquidating your assets?
You can avoid such high expenses by researching cost-effective options such as acquiring the long-term care insurance as early as now. Having a plan in place makes you better prepared in case you are no longer able to care for yourself.
With each passing day, more people are beginning to embrace the benefits that come with acquiring a long-term care insurance policy. We now have people in the age bracket of between 50 and 60 years purchasing this coverage. These individuals do not want to become a burden to their friends or families should anything go wrong once they age.
WE JUST NEED TO GATHER YOUR INFORMATION!
Our office takes the steps necessary to get you realistic quotes for your Long Term Care policy. When you apply for Long Term Care insurance, you do have to go through the underwriting process. It is very important for you to understand the underwriting process to help you avoid unnecessary frustration.
We believe in being proactive and gathering your information to see how the carriers will rate your overall health for their Long Term Care insurance product.
Our office has a Long Term Care Pre-Screen form. This is used to gather your specific information. Please contact our office and we will be happy to assist.
If you have any questions contact our office at (402) 352-6610 or send us a message.
WHAT TO EXPECT AFTER YOU APPLY FOR LONG TERM CARE...
After you apply, the company is going to look at different criteria to decide if they are going to accept your application for coverage. To get approved for coverage, applicants are required to go through long term care insurance underwriting. This process can generally take 4 - 8 weeks for the carrier to obtain your medical information, conduct interviews, and make a decision.
Here are some scenarios of what to expect in long term care insurance underwriting that may take place when you apply for long term care insurance.
REVIEW OF YOUR MEDICAL RECORDS
The insurance carrier may request medical records from your primary care doctor including any specialists you’ve seen in the last 3-5 years. Underwriters will review your records and compare results in your records to the information provided on your application.
Delays in underwriting decisions can be common when medical records aren’t sent by your doctor’s office promptly. It’s important to inform your doctor you applied for long term care insurance and to request they promptly respond to requests for medical records.
PHONE HEALTH INTERVIEW
You may be required to complete a phone health interview by the insurance carrier or one of their vendors. This call will verify your medical information and they may use the opportunity to conduct a standard cognitive test.
Calls can be scheduled in advance and typically last 30-45 minutes. It’s important you are prepared for the call with a list of your medications, dosages, and contact information for doctors you’ve seen in the last five years.
Schedule your phone interview as soon as possible and pick a time and a place where you’re free of distractions so they have your full attention.
Depending on your age and health status, you may get a call from a nurse to schedule an in-person interview to review your health. These interviews are typically scheduled in your home.
During the appointment, a nurse will take your vitals including your height, weight, blood pressure, and pulse. They’ll review your medical history with you and may collect lab work and/or conduct a standard cognitive exam.
It’s important to schedule your interview as soon as possible to avoid delays in the underwriting process. The faster the carrier can get your medical records and results from your interviews, the sooner they can make an underwriting decision.