With the large amount of people who are becoming interested in long term care insurance, it’s important to have insight into the matter of who is insurable and who isn’t. The issue with many long term care insurance policies is that there are pre-existing health conditions which can essentially make it unlikely or impossible that you will be able to qualify for insurance coverage when based on your health. Almost everyone has some sort of health problem, especially when they are focusing on investing towards long term care – it’s that sense that eventually your health is going to turn towards the worse and you may need further assistance and healthcare to ensure that you will be able to live comfortably. While there are a lot of people who can qualify for long term care insurance while having health conditions and various issues, there are a few conditions that will make it impossible for you to receive coverage.
Individuals who have conditions such as 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 generally not insurable. Long term care insurance companies that list these types of conditions as meriting an individual for being uninsurable generally suggest that individuals should either seek another form of insurance, an alternative payment option, and inform their loved ones that it’s very important to invest in insurance while they are healthy, before these types of conditions will have the opportunity to develop throughout their lifetime. People who are generally still in good health and do not have any of these conditions are more likely to be considered as insurable in most cases.
Individuals who are currently using crutches, a wheelchair, oxygen, or a cane are not considered to be insurable since these usually reflect that the individual has a pre-existing condition or illness. If the individual is already in need of a nursing home, assisted living, adult day care, or home health care, it’s also a reflection that they are uninsurable because generally seniors who are in these circumstances are experiencing mental conditions such as dementia or are suffering from other health conditions. Seniors who need assistance with grocery shopping, use of the telephone, banking, or even just transportation are also deemed not to be insurable by long term care insurance. In addition to this, those who need assistance with daily tasks such as dressing, feeding themselves, continence, bathing, or transferring between beds or chairs are not insurable because it implies that they are already in need of assisted living care or nursing home care.
The best way to determine if you are insurable is to talk with a professional that works with long term care insurance – however, in most cases, you can generally determine your eligibility based on the aspects listed above.