Potential LTC Case - Suggestions Welcome

Discussion in 'Long Term Care Insurance Forum' started by RINCN, Apr 20, 2017.

  1. RINCN
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    RINCN Member

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    Hi, I'm brand new to LTCi (experience is more on the Life/Health/IDI side) and have a couple that's looking to get coverage.

    Been browsing around and there's a lot of expertise here that I've been able to learn from. And I appreciate the knowledge base and help in these forums. Thanks to all the veterans who are helping out consumers and newer agents. :)

    I don't have all the details, but here's what I do have (can provide more critical details after I see them again):

    Husband age 68-
    -Diabetes (not sure type I or II), takes meds for this (not sure which)
    -High blood pressure - takes meds for this (not sure which)
    -Hypothyroid - takes 25mcg Levothyroxine
    -Both knees replaced (12/2011 & 3/2012)
    -Spiral fracture left femur, surgical repair in 2010, has a handicap placard for this injury, has a metal bar in left femur
    -Right knee ACL replaced (~1995)
    -Walks fine after the surgeries, medical conditions are under control, no need for help with ADL's
    -Applied for life insurance recently (GUL) at NACOLAH and was rated at Table 2 for diabetes

    Wife age 60-
    -Dianosed Schizophrenia (revised from Bipolar) - takes Seroquel (50mg/day?)
    -Hypothyroid - not sure if still taking anything for this now
    -Has been hospitalized previously in 2010 for 3 days, and also over 20 yrs ago for about a week
    -No mental health "episodes" or hospitalizations since 2010
    -Sees psychiatrist regularly for continued care
    -No movement restrictions or help for ADL's

    Options to look at are traditional LTCi, LTC+Annuity, LTC+Life.

    They don't like the idea of use it or lose it with traditional LTCi, would prefer LTC+Annuity, or even LTC+Life since they both have underfunded VUL's which they are looking to replace with Life only GUL's, but a LTC+Life combo could be a better option for them.

    Want to find out which carriers and products are the best fit for their health conditions, not sure if there are any with the risk appetite for these health conditions?

    This couple is more towards HNW status, but the wife's mom had to have hospice care recently (completely paid for by medicaid/medical) and the potential cost of care for her/her husband did greatly concern her to the point of wanting to get LTC coverage of some sort.

    Also, this couple lives in CA if that makes a difference with carriers/products available.

    Thanks in advance for your help with this!
     
  2. Mr_Ed
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    is she receiving disability benefits from social security?
    if not does she work full-time, part-time or what?
     
  3. CALTCAgent
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    CALTCAgent Well-Known Member

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    Why does he still have a handicap placard ?
     
  4. Mr_Ed
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    Mr_Ed Well-Known Member

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    that won't disqualify him.
    she's the big if.

    is she on ss/di is the critical issue here.
     
  5. yankee466
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    yankee466 Well-Known Member

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    I would think the antipsychotic medication is a big red flag for most options.

    Very easy for them both to be toast as more details emerge.
     
  6. CALTCAgent
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    CALTCAgent Well-Known Member

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    Maybe not, but it could. Can depend on what is said in APS regarding the issue.

    He has a lot going against him on top of this.

    I think a case like this would be better to work with a LTC specialist ?
     
  7. Mr_Ed
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    Mr_Ed Well-Known Member

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    the wife is harder to insure than the hubbie.
     
  8. ltcadviser
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    ltcadviser Well-Known Member

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    Yup. Burnt Toast. Get breakfast elsewhere.
     
  9. CALTCAgent
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    CALTCAgent Well-Known Member

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    What always amazes me is when I hear people with a host of health conditions like these say "they don't like the use it or lose it" with traditional LTCi.

    :no:
     
  10. ltcadviser
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    ltcadviser Well-Known Member

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    I have to admit when I read that my first thought was "the use it or lose it underwriter will like you even less."
     
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