Your Long Term Care application declined? Now What?

It can be one of the most frustrating experiences you’ll ever have with an insurance company.  Here you are finally wanting to purchase that expensive Long Term Care Insurance Policy and the insurance carrier rejects you.  What a terrible feeling.  They don’t want me…I feel good, I look good, they don’t know what they are talking about!  These are normal feelings to have when you are declined.

So now what do I do?   First, try not to be too frustrated.  There’s more than one fish in the sea.  Second, go forward with your spouse’s approval.  Too often we see a couple apply together, one spouse receives an approval and the other spouse gets declined.  Out of frustration, often the approved spouse declines to accept their policy.  They feel that they’ll show the insurance company who’s boss.   Let’s think about this one….here’s an analogy:  Would you drop your spouse’s auto insurance if you were turned down by an insurance company?  Of course not.  So why reject LTC insurance?

Finally, work with an independent agent that specializes in Long Term Care policies.  That agent will have access to several carriers including ones that deal with tougher health situations that caused your declination in the first place.  It’s also important to design the policy correctly.  You can read a good article on 6 tips for Getting the Best Coverage.