Stand alone LTC for a patient taking Donepezil?

[fed up]

Lol. Not a final attempt to get LTC insurance as the client is as uninsurable as uninsurable gets.

A final attempt for the OP to solve his clients problem using the alternative methods provided by @scagnt83 & @fed up.

Underwriters are not the only ones that could care less on how well you bat but care if you can remember the batting order. There is another group of folks who feel the same way - lawyers.

"You restructured my clients annuities and took his money to ladder CD's knowing full well he has Dementia, thus compromising his decision making?"

That's an easy lay up for a lawyer.

And that is why you get a POA in place, using a family member and include that person in ALL choices.

 

[Tothetop]

And that is why you get a POA in place, using a family member and include that person in ALL choices.

No doubt about that. Another option, as I said earlier, is to cautiously let it be. To each his own.

 

[Northeast Agent]

The ILTCI Conference (beginning today) has a webinar on this topic April 29th:

Uninsurable Doesn't Mean the End of the Sale/Relationship

Welcome! You are invited to join a webinar: Uninsurable Doesn't Mean the End of the Sale/Relationship. After registering, you will receive a confirmation email about joining the webinar.

 

[Thomas Mead]

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 nonstarter. Apologize to your client for your error and move on.

I feel like I owe MOO an apology but not so much to the client. He was with his spouse and we were doing an e-app and when it came to the medications I did not put 2+2 together with the generic name for Aricept which would have halted me from submitting the app. When the client stated he took Donepezil and I asked him what he was taking that for he answered with "for PMI" when I asked what that was he answered with "they will know what it is" and left it at that. I do need to be more assertive when asking questions in the future though, I failed MOO as a field underwriter on this one.

 

[Thomas Mead]

I have the client and his wife lined up with an elder law attorney to look at setting up a trust. This particular attorney has done a bunch of "Medicaid Asset Protection Trusts" which keep everything intact and out of the Medicaid look-back and spend-down. This solution is not as desirable as a good LTC policy, but the total cost will be less than a year's premiums and helps preserve assets for his wife. I feel like at this point he needs to be in the hands of someone who knows Texas Medicaid laws and estate laws. He may not end up in a posh private facility, but at least when/if the time comes he will get the care he needs without eroding all of his hard-earned assets.

 

[NewbieNewbie]

Hey so you screwed up. I have too. What I find admirable is you have owned it, and forwarded it to an appropriate party. These kind of cases have a strange way of circling around in a few years. Good will, a referral,. Etc.