Rejected For Long-Term Care Insurance? 2 Key Questions to Ask

Lengthy-Time period Care insurance coverage not solely prices large bucks, the approval course of for getting it will possibly additionally resemble an Olympic impediment course – particularly when pre-existing circumstances or different conditions exist.Insurance coverage firms are working a enterprise, in spite of everything, so that they apply tight requirements to long-term care insurance coverage functions to display screen out individuals who current too excessive a threat. Consequently, individuals get a thumbs down on a regular basis. In accordance with trade statistics, as many as one-third of all people who find themselves solely of their sixties once they apply for long-term care insurance coverage are instructed NO!If that occurs to you, do not panic. There’s nonetheless hope. Listed below are the questions you’ll want to ask your agent:• Does the corporate have an appeals course of?Most of them do. In that case, take a replica of the corporate’s rejection letter to your physician. The letter will specify why you had been rejected (or whacked with a premium a lot increased than you had been anticipating).The physician’s response to the explanations the corporate’s turning you down is pivotal – and shrouded in thriller. Until you are within the medical subject, you will not perceive a tenth of what the letter is saying. So, you simply must have religion that the physician has made a bulletproof case for the corporate to simply accept you.Simply bear in mind, insurance coverage firms can pull some actually, actually large boners. In a single scenario I am acquainted with, the corporate mentioned that a part of the rejection was primarily based on some medical circumstances that the physician had by no means seen within the affected person. A part of the physician’s tart response: “I certainly appreciate your calling my attention to these medical issues. In more than 20 years of being this patient’s physician, I have never run across those conditions in this patient myself.”Regardless of the letter’s cheeky tone, the physician made such a compelling case that the insurance coverage firm issued a coverage in spite of everything.Be forewarned, although, that appeals do not succeed fairly often. But it surely does occur. I personally know of two conditions the place a physician’s letter gained the day.Remember, as effectively, that medical doctors are very busy. You’ll have to present the physician a number of nudges earlier than the letter materializes.• Do you’ve one other coverage or firm whose protection is not nearly as good however for which I might doubtless qualify?Brokers need to get a fee from working with you, so that they’ll normally have a few various firms or insurance policies to point out you in case your first selection would not work out. And in the event you’re working with an agent who’s skilled in long-term care insurance policies, (fingers crossed that you just made it some extent to select such an agent within the first place) they could even nonetheless have the ability to get you a coverage with a prime firm at normal charges.Briefly, being rejected by an insurance coverage firm isn’t the tip of the street. It simply could imply you may must take a detour or two to get the place you need to go.