LTC Coverage for a 78 year old female?

[Thomas Mead]

Does anyone know of a solid carrier for a stand-alone LCT policy for a relatively healthy 87-year-old female? Her husband has been on Aricept for a couple of years so he is not eligible. If a hybrid annuity with LTC benefits is the best fit what carrier would have a period-certain annuity with an LTC rider that is partnership compliant? I need to do LTC planning for her and work on Medicaid planning for him. I have an ederlaw attorney in my practice so we can get him taken care of when the time comes without leaving her broke but I want to find the most efficient products for her.

 

[Thomas Mead]

Does anyone know of a solid carrier for a stand-alone LCT policy for a relatively healthy 87-year-old female? Her husband has been on Aricept for a couple of years so he is not eligible. If a hybrid annuity with LTC benefits is the best fit what carrier would have a period-certain annuity with an LTC rider that is partnership compliant? I need to do LTC planning for her and work on Medicaid planning for him. I have an ederlaw attorney in my practice so we can get him taken care of when the time comes without leaving her broke but I want to find the most efficient products for her.

She is 78, not 87.

 

[yankee466]

She is 78, not 87.

All the traditional carriers will offer at age 78.....Mutual of Omaha, NGL, Thrivent...but I'll bet she gets declined at that age for something. Coverage is not cheap at that age.. Depending on medical, you can also look at the short term plans for better than nothing if offered in that state. Hybrids also available...but she has likely waited too long to get a lot of coverage

 

[kpbdy99]

She can get coverage age 78, but she's going to have to be a very, very healthy 78-year old. Mutual of Omaha or Thrivent will give her a discount for being married, NGL won't. Thrivent seems to be a BIT more open-minded on underwriting borderline cases. NGL is tough.

ONLY traditional LTC policies filed as Partnership products give Partnership proteciton, hybrids - either life or annuity - do not. At 78, she wouldn't have to buy an inflation rider to qualify for Partnership protection.

 

[ltcadviser]

As Kerry stated, Partnership is traditional LTC only. Global Atlantic ForeCare is best value single pay hybrid for a 78 year old female and it is not difficult to health qualify for.

 

[Marc Glickman]

Thomas - at that age for a female, I'd suggest exploring GILICO or Global Atlantic.

 

[vic120]

what kind of rate would one get being health at that age?

Also decent health male and female at 65?

 

[ltcadviser]

what kind of rate would one get being health at that age?

Also decent health male and female at 65?

Vic, why don’t you just run Mutual of Omaha rates on their website or on WinFlex. You are an Omaha agent for Med Supps aren’t you?

 

[vic120]

Vic, why don’t you just run Mutual of Omaha rates on their website or on WinFlex. You are an Omaha agent for Med Supps aren’t you?

Yea but Being that I work med supp I know there can be a huge difrence in carriers Reason why I am asking those that work this line of insurance

In NY for instance Mutual is at least $150 more a month then say AARP or BC

I do get asked the question from time to time I am just wondering what average premium might be expected to even know if its something I would care to add

I am mostly in TX NC SC IL TN GA

 

[ltcadviser]

Yea but Being that I work med supp I know there can be a huge difrence in carriers Reason why I am asking those that work this line of insurance

In NY for instance Mutual is at least $150 more a month then say AARP or BC

I do get asked the question from time to time I am just wondering what average premium might be expected to even know if its something I would care to add

I am mostly in TX NC SC IL TN GA

Not the case here! Just run Mutual of Omaha. You are overthinking it. It’s pencil is sharp enough for your needs. And there is no reason to ask us to run the rates for you when you have the software.