Eligibility Requirements
Applicants age 18-99; No evidence of any cognitive impairment (Memory, Orientation, Reasoning); Must be able to independently perform all activities of daily living; instrumental activities of daily living and meet medical underwriting requirements.

Activities of Daily Living
Bathing, dressing, toileting, eating, transferring and continence.

Instrumental Activities of Daily Living
Using the telephone, doing laundry,taking medication, managing finances, shopping, housework, and meal preparation.

Uninsurable Conditions
AIDS or AIDS related complex, alzheimer’s disease, chronic memory loss, dementia, senility, organic brain syndrome Systemic lupus, cirrhosis of the liver, amputation due to disease parkinson’s disease, multiple sclerosis, muscular dystrophy, amyotrophic lateral sclerosis (ALS) metastatic cancer, receiving Medicaid, or within the past 12 months have received home health care; used an adult day care facility, been confined or advised to enter a nursing home, assisted living facility, or any other similar facility.

An individual cannot be bedridden, have paraplegia or use of a wheelchair, walker, multi-pronged cane, electric stair lift, motorized cart or hospital bed. Currently receiving physical therapy or rehabilitation services Use of medical appliances such as as catheter, oxygen equipment, respirator, a dialysis machine or any other assistive medical device.

Medical Underwriting
In addition, medical underwriting departments take the following into consideration when reviewing applications for LTC insurance:

Your Family Health History; Your Individual Health History; Whether you have been previously declined for LTC?; Had tests, x-rays or diagnostic studies for which a diagnosis has not yet been made?  On a LTC application you must list all conditions in the past 5 years that you have been treated for and list all medications currently being taken. Your height and weight must be within build scale requirements.

Reasons why people buy Long Term Care Insurance policies
Maintain and control independence in their lives.
Avoid being a burden to their families.
Gain access to quality long term care facilities.
Protect their assest from depletion.
Avoid having to go on welfare.
Achieve and sustain peace of mind.

Application Timeline
To apply for a LTC insurance plan you must submit an application with an initial premium, usually a minimum of two months. It takes 6-8 weeks for medical underwriting to be completed. This will include a review of your medical records, a telephone and/or personal interview and para-med examination. A decision will than be made by the insurance carrier to accept or decline your application. If your application is approved you will have 30-days to decide if you want to keep the policy or make any changes.

Plan Design
To design and price a Long Term Care insurance plan the following must be determined.

Determine the Applicants Risk Factor

Select a Daily Benefit between $50 and $500 in $10 increments.

Select an Elimination Period of 0, 20, 60, 90, 100, 180 or 365 days.

Select an Inflation Factor - No Interest, Simple, Compounded or Guaranteed Purchase

Select a Benefit Period - 2, 3, 4, 5, 6, 10 year or Lifetime.

Insurance carriers include:  Allianz, Genworth, John Hancock, Med America and Met Life.