Can You Get Long Term Care Insurance With Pre Existing Condition?
This is a very common question. The first thing to understand about long-term care insurance is that the process to get a policy is very different than getting auto or home insurance. Insurance companies know that eventually, you will use somehow your policy coverage, the process to get approved for long-term care insurance is a little bit longer and more pre-approval questions are made. But let’s talk about how can you get long-term care insurance with pre-existing condition.
A long-term care insurance policy defines a pre-existing condition as something for which you receive on-going medical treatment and is being supervised by any type of doctor. Nowawadays this is very common. Basically, it sets your health into a different category based on the fact that you’ve had a health problem before your long-term care coverage starts.
Some pre-existing conditions examples could be (but not limited to):
- Heart disease
- Sleep apnea
Pre-Existing Conditions May Not Affect You
Pre-existing conditions may or may not affect you in getting a long-term care insurance policy. Many companies go deeper in 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 you when getting a long-term care policy from certain companies there’s always another option that may just work better for you based on your historical data.
Alternatives to Get Approved for Long-Term Care Insurance with Pre-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 policy. That means that if something happens to you that is related to your pre-existing condition you had before you coverage started it will not be covered by your policy.
This is one of those situations where we carefully review your health assessment and review your options to find a company that can issue a policy for your life while keeping the costs down, and trying our best to minimize the effects of pre-condition exclusions.
We Can Help You Get Approved for a Policy, Even With Pre-Conditions
If you know you have a pre-condition health problem (treated or untreated) reach out to us for a Free financial consultation 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.