Long term care insurance is underwritten and premiums are based on your age and health history. Therefore, if you wait to apply, the cost rises. However, once you’re insured, your premiums cannot increase simply because you age. Equally important is the health screening process for your policy to be approved. Certain medical conditions will automatically make you ineligible for coverage so it’s important to apply for insurance before you develop a chronic condition or injury that would make you uninsurable at any age.
The cost of your long term care policy is based on:
When applying, many insurance carriers require you to complete a health assessment interview and to grant access to your official medical records. Depending on your age and recent healthcare episode, a face-to-face assessment may be required too.
The underwriting process typically takes 4 - 6 weeks depending on how quickly your medical records are received and reviewed.
Phone: (203) 939-7765