Turned Down for Long Terrm Care or Think It's too Expensive - Antolin Reiber

Have you applied and been turned down for long term care (LTC)? If so, you may have other options. With Medicare estimating that 7 out of 10 people 65 years of age and over will need some form of LTC, let's face it, it's a bad business deal from an insurance company's perspective. Because you will never likely pay in premium the amount that you will receive for a covered claim, it's not surprising that numerous insurance companies like State Farm and Metlife have stopped offering LTC insurance.

You see, insurance companies like to insure good risks.  With 70% of all insureds projected to file a claim, insurance companies are becoming more and more selective in whom they will approve for coverage. Nationally, close to half of all applicants are rejected for traditional LTC insurance. Now, I'm not talking about 50% of everyone an insurance agent talks to. I'm saying 1/2 of all applicants that an agent thinks can make it through underwriting actually gets denied.

So what is an alternative?

Enter Short Term Care (STC)

STC  pays a monthly benefit for a covered claim for up to twelve (12) months if used continuously.  Like all other LTC policies, payment of a STC benefit is triggered by the need for assistance with two (2) Activities of Daily Living (ADLs). 

Among all STC and LTC policy holders at Bankers Life, 60% of those making a claim for benefits claim for less than one (1) year. STC is an affordable, easy issue underwriting alternative to traditional LTC.

Introducing the Bankers Life STC policy.

Some Features:

- 90% of all applicants get approved.

- Choose any monthly benefit amount up to a maximum $6,200.00.

- Choose your length of coverage including 90, 180, 270 or 360 days.

- Choose your elimination period, i.e., 0, 15, or 30 days.

- Choose facility only, or comprehensive coverage including a 100% home health care option.

- Choose to include 5% compound inflation protection.

Look at the other people around you while you read this. If there are only 2 people in the room, 1 of you will need LTC, and at Medicare's 70% figures, there's a really strong chance that both of you will need it.

Covering yourself against the financial catastrophy of LTC is a business decision. As I stated in a previous entry, you may never need LTC. But what if you do?

Call me and we'll talk about reducing the likelyhood of the financial burden LTC will have upon you and your loved ones and how you can transfer all, or a portion of that risk to Bankers Life.

Antolin Reiber
Bankers Life
317-652-1717
antolin.reiber@bankers.com