Although there are many seniors that are interested in the topic of long term care insurance and investing into an insurance policy for their future use, there are many who do not realize that they are completely uninsurable due to various factors. The most natural assumption is that since seniors are the ones that are in need of long term care and various forms of treatment provided by long term care facilities, they would be the ones that would be the most eligible for this form of insurance. However, many people are beginning to realize that long term care insurance is a factor that is best invested in when you are young and in less need of this type of coverage.
The reason for this is because individuals that have any type of pre-existing condition are generally not even insurable. Of course, the people who are most likely to have pre-existing conditions already has already been defined as seniors. As a result, people who have conditions like dementia, kidney failure, liver cirrhosis, memory loss, paralysis, Parkinson’s disease, AIDS, HIV, Alzheimer’s disease, cystic fibrosis, hemophilia, Hepatitis C, amyotrophic lateral sclerosis, muscular dystrophy, multiple sclerosis, sickle cell anemia, post-polio syndrome, systemic lupus erythematosus, or schizophrenia – are usually deemed not to be insurable. This is an issue for most seniors because they are relying on options like long term care insurance to pay for their care for these issues, but they have no means of being able to access these benefits because – they are essentially unhealthy.
Moreover, it’s not just an issue of having a specific pre-existing condition. Seniors who are using oxygen, wheelchairs, crutches, or canes are not insurable – therefore, it’s possible that an individual could be completely clear of the conditions on the previous list, but need any of these options for other reasons and be deemed uninsurable. If the senior is already in need of a nursing home or going into assisted care or if they are already enrolled in these options, they are automatically impossible to insure. Even if a senior is not in need of these or is not enrolled in these options, if they exhibit signs of needing help with tasks such as dressing themselves, feeding themselves, help with grocery shopping, assistance with transportation, or even just help with getting around throughout the house – such as out of bed or intro a chair – it implies that they must not be healthy and that they are not insurable by these standards.
The worst point for many seniors is that after they are informed that they are not insurable, they are told that they should have invested in long term care insurance earlier or that they can use this knowledge to share with younger family members and loved ones who may be insurable. By these standards, it is making it increasingly difficult for seniors to qualify for any type of long term care insurance.