A client’s medical history will determine whether or not he or she will qualify for long-term care insurance. Finding out about health conditions, both past and present, medications, height and weight and family history can help us determine which carrier to quote, and at which rate class.
The guides below will allow you to check on certain conditions and determine if your client might be uninsurable and give you an idea of rate class.
Traditional LTCi Products:
- Genworth Underwriting Guide
- Mutual Of Omaha Underwriting Guide
- Transamerica Underwriting Guide
- National Guardian Life Underwriting Guide
- MoneyGuard Build Chart
- MoneyGuard Medications Guidelines
- MoneyGuard Uninsurable Conditions list
- State Life AssetCare Uninsurable List and Build Chart
Other Helpful Tools:
In addition to the carrier underwriting guides, here are some guidelines for questions to ask regarding specific conditions. Oftentimes a specific condition can be insurable, if it is stable and well controlled.
- Build Charts for all carriers (traditional and combo) offered through Target
- Mutual of Omaha Arthritis Questionnaire
- Mutual of Omaha COPD Questionnaire
- Mutual of Omaha Diabetes Questionnaire
Family History and LTCi Underwriting
Recently, some of our carriers have started using family history as part of the underwriting process. Most notably, family history can keep an applicant from qualifying for preferred. Here are current practices of our carriers:
- To get a Preferred Best or Preferred rating: No parent with coronary heart disease prior to age 60. No parent with dementia prior to age 70.
- To get a Select rating: One parent with coronary heart disease prior to age 60 or one parent with dementia prior to age 70.
- To get a Standard rating: Both parents with dementia prior to age 70.
Question is asked on Part 2 of the app, which is completed during the paramed. Family history became an underwriting criteria in september 2014.
Mutual of Omaha:
Family History (mother, father, sibling) of any form of Dementia, including but not limited to Alzheimer’s
- No preferred rating
- Maximum benefit period 5 years
Transamerica: Currently, family history for applicant’s biological parents is asked on the application, but it is for research only. It will not affect the underwriting decision.