Age 61+ Long Term Disability

[HoustonInsure]

Hello

I am trying to find Long Term Disability for a female age 65.
It seems that the offers end at age 61. Is there a reason?
Why do carriers stop offering Long Term Disability after age 61?
Are there any carriers that offer LTD at a later age?

 

[yankee466]

Maybe because they view anyone 61+ as a disability waiting to happen....not to mention SS not that far off. LTD gets pretty pricey too as you get close to 60.

I pivot to LTC at that age. What are the odds of needing LTC in the next 20+ years versus needing LTD in the next 5?

 

[TPetersen]

Hello HoustonInsure

The only market I know of that there is a possibility at 65 is within the Petersen/Lloyds market. It depends upon the situation, but coverage over 65 is definitely possible. Contact your local DI brokerage outlet or contact us.

 

[fjohnston]

Hello

I am trying to find Long Term Disability for a female age 65.
It seems that the offers end at age 61. Is there a reason?
Why do carriers stop offering Long Term Disability after age 61?
Are there any carriers that offer LTD at a later age?

There are a few traditional carriers that will offer coverage over age 61. MetLife will offer up to age 70, Standard will offer up to age 64 and Principal will offer to age 64(only in a multilife scenario) PM me if you would like details.

Frank Johnston, DIA

 

[TPetersen]

The traditional markets will CONTINUE coverage on a limited basis after 65 but they will not issue NEW coverage to a 65+ person.

 

[fjohnston]

The traditional markets will CONTINUE coverage on a limited basis after 65 but they will not issue NEW coverage to a 65+ person.

MetLife began issuing new coverage up to age 70 when they came out with their Income Guard policy a few years ago.

 

[TPetersen]

There is a difference between age when ISSUING a policy and how long someone may keep it. Most carriers will extend coverage to existing policy owners up to around age 67 give or take. However, if you do not have coverage now and you are 65 or older they will not issue a new policy.

I fully agree and concur that if you have a policy in force you may be able to keep it beyond age 65. I thought the original question was for someone over 65 looking to buy coverage.

 

[fjohnston]

There is a difference between age when ISSUING a policy and how long someone may keep it. Most carriers will extend coverage to existing policy owners up to around age 67 give or take. However, if you do not have coverage now and you are 65 or older they will not issue a new policy.

I fully agree and concur that if you have a policy in force you may be able to keep it beyond age 65. I thought the original question was for someone over 65 looking to buy coverage.

Metlifes ISSUE AGE is 18-70 on their Income Guard product. I just had a policy issued on a 68 year old.

 

[yankee466]

with MetLife.....at age 65+, the max is a 2 year benefit period as I recall.

 

[David Block]

There is not much information provided here but I would also suggest looking at her employer (unless of course she is self-employed). It may be possible, if the group is large enough and the employer motivated enough, to get a group LTD policy with an age-70 benefit period. Otherwise, I would go to Petersen or a GA that specializes in DI for other options.