Message from Tobe:
LTCi specialists are committed to making sure that our insurance companies deliver on their promises. With this mission in mind, claim time is when the rubber meets the road! The Certification for Long Term Care (CLTC) published a very well written guide (thanks to Linda Thalheimer!) on how to navigate the claims process. Please feel free to provide your clients with a copy of this document for their own library.
“Q & A” of the Month:
Q: I am a 65 year old female and I’m going to be getting married in a few months. What is the advantage for me to apply now versus applying once I’m married? My fiancé already owns a LTCi policy.
A: While I don’t usually encourage people to wait to apply if they are in good health and have the resources to pay the premium, there is a discount available (with most companies) if you wait until you are married. Depending upon the policy design that you select, that savings will add up over time. If you are curious about the differences in the premium, ask the LTCi specialist to offer you quotes as a single woman versus a married woman who will be applying without her spouse.
Q: I am 59 years old. Up until two years ago, I had absolutely no health issues at all and then I got Covid. Since then, I have had a number of health issues arise that are very concerning to me. My doctor said that I have “long” Covid and that I just need to learn to live with what is going on! How will this be looked at from a medical underwriting standpoint if I want to apply for LTCi?
A: We now know that “long” Covid has a variety of symptoms, all of which are very real to the person who is experiencing them. We are just beginning to see the fallout from “long” Covid with regard to how it can affect someone’s health. If someone has “long” Covid and is interested in applying for LTCi, the key thing is to be as transparent and informative as possible with the LTCi specialist regarding the symptoms you are experiencing. Once the LTCi specialist understands the issues and any treatment that is taking place, she/he can share your health profile with the underwriters to see if these particular concerns will affect your insurability.
Yours in success,
— Tobe Gerard