SDPEBA/SDCPOA just announced that members are eligible to enroll in long-term care insurance with Unum, and on top of that members who sign up before December 15th, 2020 have access to a guaranteed issue plan!
Long-term care insurance is one of the most difficult types of insurance to qualify for, as it has restrictions based on age, weight, and various health conditions. Around 40% of applicants between the ages of 50 and 71 can expect automatic denial when applying for long-term care insurance.
A guaranteed issue plan, like the one SDPEBA and SDCPOA are offering with Unum, guarantees that you will qualify for coverage so long as you apply before December 15th.
What Denies you Coverage?
It’s unfortunate that denials are so common, because 70% of adults age 65+ will need some form of either physical or mental care assistance, which doesn’t come cheap! Long-term care insurance is a great way to deal with steep medical prices. So, why do so many people end up being denied coverage?
People have been denied coverage after a doctor mistakenly put an injury down in a patient’s medical records, for being too young, and even for just being at risk for certain conditions. When asked, a local insurance broker explained that one of her clients, who was perfectly healthy, but had recently gotten physical therapy after a car accident was even denied coverage.
The broker explained that “she had two weeks of physical therapy because her shoulder was sore, but she was back to her normal self a day after the physical therapist cleared her.” The insurance broker went on to say, “long-term care insurance applications check for just about every health complication possible, the forms are massive and require going back nearly all of your medical history.”
Here’s a link to Unum’s regular application for long-term care insurance, you can see for yourself how detailed it is.
Other common reasons people are denied are:
- Diabetes
- Over or Underweight
- Smoking
- Cancer
- Arthritis
- Heart Issues
- Joint pain
- Back pain
- Knee Pain
Taking advantage of our guaranteed issue plan is the only way to ensure you will be able to get the necessary LTC coverage you deserve.
LTC Insurance Availability
Qualifying for long-term care insurance isn’t usually guaranteed, and even non-GI LTC insurance might not be offered forever. Most companies are removing their LTC plans since there is some uncertainty in the future market, meaning signing up for these benefits now is even more critical.
It's important to note that even if you sign on for a smaller plan, you still get money to put towards covering your medical expenses. Meaning, you can still use your benefits even if costs exceed your monthly coverage, making it easier to access care that would normally be out of your price range.
Click here to Schedule a Long-Term Care Call
If you want more information, we’re hosting a seminar with a Q&A session on December 2nd, 2020 - 9:00-10:00am - Click here to RSVP!
You can also check out our other articles on LTC and our new GI plan: LTC Enrollment Announcement and 5 Reasons you should Enroll for LTC Insurance Today.
Remember, the GI enrollment period ends December 15th, 2020. Sign up now for a once in a lifetime opportunity.
If you have any other questions check out our support page where you can ask us questions directly. You can also email us at [email protected] or give us a call at: 888-315-8027.