Can everyone qualify for long term care insurance?
No. Not all people need insurance for long term care actually. Since LTCi is quite complicated product, most insurance companies have come up with difficult standards and underwriting procedures to qualify only those who are eligible. Although the standards vary from one insurer to another, here are the common conditions that make you ineligible to apply:
• You are using long term care services
• You have AIDS and other sex related disease
• You have Alzheimer’s or any other cognitive disorder
• You have Multiple Sclerosis or Parkinson’s disease
• If you have had strokes in the past 12 to 24 months
Other health conditions not mentioned in the policy will be checked if you are still qualified for the benefits. Once the company approves your eligibility, it cannot cancel your policy for any reason unless you have stopped paying premiums and after you have received the maximum benefits. If you develop illness or any condition after qualifying for policy, you will be covered for the care needed to mitigate such condition.