Long Term Care Question

JimmyUt

Guru
1000 Post Club
2,574
Utah
I have a husband and wife 64 and 61 that need coverage. He is a doctor and they have lots of assets. The problem is that he is 1 year out of prostate cancer (no sign now) and she is a bit overweight and on thyroid meds. She is not obese, but is 5'9" 198lbs. I am looking for someone who is possibly able to write in Utah. I have heard of asset based long term care, but am not clear how it works. Any direction would be appreciated.
 
I have a husband and wife 64 and 61 that need coverage. He is a doctor and they have lots of assets. The problem is that he is 1 year out of prostate cancer (no sign now) and she is a bit overweight and on thyroid meds. She is not obese, but is 5'9" 198lbs. I am looking for someone who is possibly able to write in Utah. I have heard of asset based long term care, but am not clear how it works. Any direction would be appreciated.


I do not write in Utah, but your description sounds like they are potentially insurable every where for LTC. All the main players sell there.The key will be their medical records

Linked benefit versus traditional LTC questions will just stir up a repeated debate that you will see played out over and over again on this board to the point where it gets old. Suggest you go back into the archives a little. Lincoln Money Guard, Genworth TLC, etc are examples of asset based LTC. Mutual of Omaha has an annuity product. West Coast Life has a good UL plan with accelerated death benefits for LTC needs. All can be considered.
 
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I do not write in Utah, but your description sounds like they are potentially insurable every where for LTC. All the main players sell there.The key will be their medical records

Linked benefit versus traditional LTC questions will just stir up a repeated debate that you will see played out over and over again on this board to the point where it gets old. Suggest you go back into the archives a little. Lincoln Money Guard, Genworth TLC, etc are examples of asset based LTC. Mutual of Omaha has an annuity product. West Coast Life has a good UL plan with accelerated death benefits for LTC needs. All can be considered.

Someone will take him one year out from cancer at standard? I'd see him having a hard time with a linked benefit. They are based primarily on life underwriting, and cancer a year out is difficult.
 
I have a husband and wife 64 and 61 that need coverage. He is a doctor and they have lots of assets. The problem is that he is 1 year out of prostate cancer (no sign now) and she is a bit overweight and on thyroid meds. She is not obese, but is 5'9" 198lbs. I am looking for someone who is possibly able to write in Utah. I have heard of asset based long term care, but am not clear how it works. Any direction would be appreciated.


He can easily qualify for traditional LTCi from nearly every major LTC player at their "standard" rate.

She's insurable also. A 5'9/198 female is preferred for most LTCi companies and thyroid medications are not an issue for LTCi.

nadm
 
"The problem is that he is 1 year out of prostate cancer"


Let's slow down everyone and think about this before you make post.

Jimmy is obvioulsy not an expert on LTCi and is looking for advice. No, not everyone will automatically approve someone with prostate cancer "1 year out".

What should have been said was that 1 year after all treatment ends. Many men have surgery, followed by chemo or radiation. When did treatment end? That's the key and depending upon the stage of the cancer, there are some carriers who will consider after 3 months. (Genworth)

Jimmy, here's the best way to handle a case like this:
Ask the client if it's possible to get a copy of his pathology report. Forward a copy to the carrier and that alone will tell the them all they need to know about insurability.

You say he's a doctor, so he probably knows more about his condition than the average client. Find out what type of treatment he had, exactly when it ended, what is his present PSA and what was the stage of the cancer?

The more you disclose to the company up front, the easier it will be for both you and your clients.
 
I have a husband and wife 64 and 61 that need coverage. He is a doctor and they have lots of assets. The problem is that he is 1 year out of prostate cancer (no sign now) and she is a bit overweight and on thyroid meds. She is not obese, but is 5'9" 198lbs. I am looking for someone who is possibly able to write in Utah. I have heard of asset based long term care, but am not clear how it works. Any direction would be appreciated.

1. Are you looking for someone to write this for you?

2. Do you want to use an asset based plan?

3. LTC underwriting will drive a person crazy. When you think you know enough, you'll find there was something in the APS they didn't disclose, know about, or a combo of both. You have not provided enough info for an educated guess. Whats in the APS is the deciding factor. There is more you need to ask them.

You are asking people to speculate.
 
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1. Are you looking for someone to write this for you?

2. Do you want to use an asset based plan?

3. LTC underwriting will drive a person crazy. When you think you know enough, you'll find there was something in the APS they didn't disclose, know about, or a combo of both. You have not provided enough info for an educated guess. Whats in the APS is the deciding factor. There is more you need to ask them.

You are asking people to speculate.

Thanks for the replies. I am a little unclear exactly what these folks want because they don't know. I am by no means an expert. I have looked at asset care with One America because it seems like a pretty straight forward product for me since I understand life products fairly well, but I don't know. LTC seems to be a gigantic undertaking that I am not sure I want to even deal with, but these folks have numerous other lines of insurance I intend to help them with and if I can help them here it would be great as well.

Just to clarify, he had his prostate removed in Nov of last year, and had no signs since. He is a pathologist by trade so he at least knows what he is talking about when it comes to that stuff. I always have been told it is hard to get folks past underwriting, but it appears as long as everything checks out, and even after cancer, he has an ok shot at standard. I will get the pathology report and get to work.

Thanks
 
Just to clarify, he had his prostate removed in Nov of last year, and had no signs since. He is a pathologist by trade so he at least knows what he is talking about when it comes to that stuff. I always have been told it is hard to get folks past underwriting, but it appears as long as everything checks out, and even after cancer, he has an ok shot at standard. I will get the pathology report and get to work.

Thanks

If he had it removed Nov. of last year, its less than a year, different than your first post. I know, seems trivial, not to a underwriter. Once again, you really need more info on both of these people to even start speculating about products.

You can get a pathology report if you like. Not sure if thats a snapshot or what exact info that will contain. It can't hurt, but may not be enough. Underwriter can't and won't make a decision from that. Will depend on underwriting guidlines of particular company, product, and possibly underwriter that individually underwrites it. Believe it or not I get different opinions from different underwriters at the same company. Also depends on a few other things, that are somewhat of a guessing game, IMO.

While your at it get the whole APS. They are going to use all that info to make their decision. You can do a lot of running around for nothing.

I feel the LTC industry really needs to make changes in underwriting procedures, the agent is in a very tough position as "field underwriters". The companies don't mind "taking a look", meanwhile you have spent hours, and many times get 1 shot. But thats another story.
 
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If he had it removed Nov. of last year, its less than a year. Once again, you really need more info on both of these people to even start speculating about products.

You can get a pathology report if you like. While your at it get the whole APS. They are going to use all that info to make their decision. You can do a lot of running around for nothing.

I feel the industry really needs to make changes, but thats another story.

Thanks for the heads up, it looks like an awful lot for me to undertake as well as get right for the client. I don't want to give them a mediocre product just to write the business.
 
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