Stand alone LTC for a patient taking Donepezil?

[Thomas Mead]

I have a client who is taking Donepezil and is wanting a long-term care policy. He got angry with MOO and did not complete the phone interview so they declined him. He is very healthy and active and has not been diagnosed with Alzheimer's or Dementia. He plays softball and tinkers with cars, he is one of my wealth management clients that I would have guessed to be on no medications based on activity and appearance. He will be 65 in a few months.

Any suggested carriers? He does not want a hybrid since he already sunk a bunch of his money into annuities and another would not be suitable.

 

[fed up]

Why is he on Aricept? I had a client on that while his wife was fighting cancer treatment and was bedridden. Trying to get his physician to author a change of medication was a battle not worth fighting.

 

[ltcadviser]

I have a client who is taking Donepezil and is wanting a long-term care policy. He got angry with MOO and did not complete the phone interview so they declined him. He is very healthy and active and has not been diagnosed with Alzheimer's or Dementia. He plays softball and tinkers with cars, he is one of my wealth management clients that I would have guessed to be on no medications based on activity and appearance. He will be 65 in a few months.

Any suggested carriers? He does not want a hybrid since he already sunk a bunch of his money into annuities and another would not be suitable.

You had no right to submit his application. Mutual of Omaha should be angry with you. Your client should be angry with you. Why are you wasting Mutual of Omaha and your client’s time? He is uninsurable with every underwriter. You obviously knew he is taking Aricept once you completed and signed his application. You can’t submit it. Every underwriter has always declined all applicants prescribed Aricept for the past 24 years. Every underwriter orders an electronic prescription drug report. It is a non starter. Apologize to your client for your error and move on.

 

[kpbdy99]

He's on a dementia medication. It's in every underwriting guide as an automatic decline. Do yourself a favor... find a good LTC specialist you can work with so you don't unnecessarukt put another client in this situation.

 

[vic120]

Donepezil isn't even approvable with medicare LTC is much harder underwriting

I don't sell LTC but with medicare Supplements and FE life there is decline drug list with most companies

I am sure you can get the same in LTC at least a guideline the basics should be easy enough to learn

Dementia is a basic

 

[scagnt83]

He is very healthy and active and has not been diagnosed with Alzheimer's or Dementia. He plays softball and tinkers with cars, he is one of my wealth management clients that I would have guessed to be on no medications based on activity and appearance. He will be 65 in a few months.

Any suggested carriers? He does not want a hybrid since he already sunk a bunch of his money into annuities and another would not be suitable.

He is uninsurable. Period.

Early stage dementia is odd. It does not show it self most of the day... until it does. Most people never know the person has it, until it progresses. It will progress for this guy. It also does not affect a persons physical health at first. Its a mental disease.

Since he is a wealth management client, you need to have a very frank discussion with him about getting paperwork and assets in line for when he is no longer able to make informed decisions himself. This is urgent. You have no clue how bad it is when you do not speak to him. "Sundowners" is a real thing... people are fine during the day, but at night they are a completely different person due to dementia.

The ONLY protection from LTC he could get at this point is an Annuity with LTC benefits on the income rider. It would double his income for LTC needs.

I highly recommend you look at restructuring his annuities if possible. Look at a bonus product to help wash the surrender fees. Check the MVA amounts, with rates increasing Ive seen some upward MVA movement lately which would help or even eliminate surrender charges depending on age of the policy. Its his only option to help protect finances from LTC claims. And he will certainly need that protection sometime in the next 10-15 years.

 

[scagnt83]

He's on a dementia medication. It's in every underwriting guide as an automatic decline. Do yourself a favor... find a good LTC specialist you can work with so you don't unnecessarukt put another client in this situation.

Exactly. IF a high risk client actually was insurable, putting them with the wrong carrier and getting a decline eliminates their chances of approval with the one carrier that would have taken them.

Also, this decline has screwed him on any chance to get any life insurance if its still needed. People with early stage dementia can still get life insurance sometimes. But most apps ask about a decline in the last 5 or 10 years.

 

[Tahoe Ray]

Early stage dementia is odd. It does not show it self most of the day... until it does.

Yeah...like getting annoyed with a phone interview.

Years ago I had a decline because the client got frustrated with all of the "stupid questions" in his phone interview.

The underwriter told me that frustration with simple, necessary tasks may be an indicator of cognitive impairment (and this guy certainly wasn't on Aricept).

I was able to place him elsewhere but it took a while to find an option along with some lessons on patience for my client.

 

[scagnt83]

Yeah...like getting annoyed with a phone interview.

Years ago I had a decline because the client got frustrated with all of the "stupid questions" in his phone interview.

The underwriter told me that frustration with simple, necessary tasks may be an indicator of cognitive impairment (and this guy certainly wasn't on Aricept).

Exactly. It's the little things at first.

And there is more to the phone interview than the questions themselves. I always heard afternoon was the preferred time for the phone interview since symptoms present more as day goes on.

 

[ltcadviser]

Exactly. IF a high risk client actually was insurable, putting them with the wrong carrier and getting a decline eliminates their chances of approval with the one carrier that would have taken them.

Also, this decline has screwed him on any chance to get any life insurance if its still needed. People with early stage dementia can still get life insurance sometimes. But most apps ask about a decline in the last 5 or 10 years.

OP never mentioned a decline. Interview was not completed. Possibly just a withdrawn application.