How to Get Approved with Existing Health Conditions
Pre-existing health conditions may or may not affect you in getting a long-term care insurance policy. Many companies go deeper into your medical history than others. While some companies may review 1-3 years of your medical records others may look back into a 10 year period.
What that means is that while your pre-existing conditions could affect your ltc insurance from certain companies. But there’s always another option that may just work better for you based on your historical data.
Alternatives to Get Approved for LTC Insurance Pre-Existing Conditions
Although you can easily find an insurance company to approve a policy for you, most of the times we’ve seen that your pre-condition becomes an exclusion in your ltc policy. That means that if something happens to you that is related to your pre-existing condition you had before your coverage started it will not be covered by your policy.
This is one of those situations where we carefully review your health assessment. We also review your options to find a company that can issue a policy for your life while keeping the costs down. We’re experts trying our best to minimize the effects of pre-condition exclusions.
We Help You Get Approved for an LTC Policy With Pre-Conditions
If you know you have a pre-condition health problem (treated or untreated) reach out to us for a Free Financial help with one of our Future Proof advisors who can help you get the long-term care insurance coverage you need, even with health pre-conditions.
What to Do If Denied for LTC Insurance with Health Conditions Before
If you’ve been denied for LTC insurance before, the first question to ask is to find out if the insurance company have an appeals procedure?
If that’s the case, have a copy of the organization’s rejection letter into your physician. The letter will define the reason why you’re rejected (or whacked using a superior much higher than you’re expecting).
The physician’s answer to the reasons that the organization’s turning down you is critical. It is important that the physician writes a great-bulletproof case for your insurance company to review and accept it once in for all.
Here’s a good example of what we’ve seen in the past. An insurance company denied an LTC due to several medical conditions that our client’s doctor had never found in our client before. This allowed the doctor to include this in his letter: I understand and appreciate you requesting my attention to the health conditions you addressed. In over 20 years of being this individual’s doctor, I have not encountered these conditions within this individual.”
Regardless of the letter’s tone (whether it’s a casual or very formal letter), the physician made such a persuasive case that the insurer issued a policy after all.
It’s also good to clarify that appeals usually don’t guarantee approval; in fact most of the times it’s very hard to change an insurance company’s decision. However, we’ve seen cases where the decision is changed and our client is approved so it’s worth trying.
Applying to Another LTC Insurance Company that You Are Likely to Be Approved
Although each agent works differently, at I Am Future Proof we represent you as our main client rather than representing any particular insurance company. What this means is that we’re experienced brokers that specialize in long-term care insurance policies and we can talk to different insurance companies until we find you the right coverage at the right price.
Being refused for a long term care policy with pre existing conditions is not the end; you still have an opportunity to get approved!