Over 150.000 insurance professionals and consumers come to the Insurance Forum every month. Click here to register for FREE

Go Back   Insurance Forum > Insurance Agents and Brokers Forum > Senior Insurance Forum

Reply to LTC For 89 Year Old Male     
Old 07-28-2013, 06:16 PM   #1
Super Genius
 
Join Date: Apr 2010
Posts:83
State: LVGUY is an Insurance Agent from Nevada
LTC For 89 Year Old Male LTC For 89 Year Old Male
Are there any options for LTC, critical or chronic care available for an 89 year old male in Florida living in his own home who will be turning 90 in September? If so what plans, companies and websites could you direct me to? I would assume that it would be impossible for a 90 year old women residing in a nursing home in Florida to qualify for anything. Thank you. All suggestions are greatly appreciated.
------------------------------------
  Reply With Quote to LTC For 89 Year Old Male
Old 07-28-2013, 06:44 PM   #2
Guru
xrac on LTC For 89 Year Old Male - Insurance Forum
 
Join Date: Apr 2007
Posts:10,711
State: xrac is an Insurance Agent from Indiana
xrac is a member of 5000 posts Super VIP club
LTC For 89 Year Old Male Re: LTC For 89 Year Old Male
Not at that age'!!!!!!!!!!!!!

------------------------------------
X
  Reply With Quote to LTC For 89 Year Old Male
Old 07-28-2013, 07:00 PM   #3
Super Genius
 
Join Date: Feb 2011
Posts:120
State: Millwood is an Insurance Agent from Oklahoma
LTC For 89 Year Old Male Re: LTC For 89 Year Old Male
That's like someone who's house is on fire trying to get coverage that will cover the loss.
Or........ My all time favorite I'm three months pregnant and need maternity coverage.
------------------------------------
  Reply With Quote to LTC For 89 Year Old Male
Old 07-28-2013, 07:01 PM   #4
Guru
xrac on LTC For 89 Year Old Male - Insurance Forum
 
Join Date: Apr 2007
Posts:10,711
State: xrac is an Insurance Agent from Indiana
xrac is a member of 5000 posts Super VIP club
LTC For 89 Year Old Male Re: LTC For 89 Year Old Male
Originally Posted by LVGUY View Post
Are there any options for LTC, critical or chronic care available for an 89 year old male in Florida living in his own home who will be turning 90 in September? If so what plans, companies and websites could you direct me to? I would assume that it would be impossible for a 90 year old women residing in a nursing home in Florida to qualify for anything. Thank you. All suggestions are greatly appreciated.
Go find a real prospect.

------------------------------------
X
  Reply With Quote to LTC For 89 Year Old Male

Register Now for FREE!
To sign up for your FREE INSTANT account, please complete the form.

Username:
    Password:   Confirm Password:     E-Mail:   Confirm E-Mail:     
   
Question of the day:   Please type "insurance" in this box I agree to forum rules 


Old 07-28-2013, 07:59 PM   #5
Guru
WinoBlues on LTC For 89 Year Old Male - Insurance Forum
 
Join Date: Jan 2009
Posts:12,168
State: WinoBlues is an Insurance Agent from Undisclosed Location
WinoBlues is a member of 5000 posts Super VIP club
LTC For 89 Year Old Male Re: LTC For 89 Year Old Male

------------------------------------
  Reply With Quote to LTC For 89 Year Old Male
Old 07-28-2013, 09:44 PM   #6
Guru
BobbyMcGee on LTC For 89 Year Old Male - Insurance Forum
 
Join Date: Jul 2012
Posts:468
State: BobbyMcGee is an Insurance Agent from Florida
LTC For 89 Year Old Male Re: LTC For 89 Year Old Male
Medicaid, if he's broke enough.
------------------------------------
  Reply With Quote to LTC For 89 Year Old Male
Old 07-28-2013, 10:35 PM   #7
Guru
 
Join Date: Jan 2012
Posts:611
State: yogooglethis is an Insurance Agent from Florida
LTC For 89 Year Old Male Re: LTC For 89 Year Old Male
Originally Posted by LVGUY View Post
Are there any options for LTC, critical or chronic care available for an 89 year old male in Florida living in his own home who will be turning 90 in September? If so what plans, companies and websites could you direct me to? I would assume that it would be impossible for a 90 year old women residing in a nursing home in Florida to qualify for anything. Thank you. All suggestions are greatly appreciated.


What LTC companies are you appointed with? I am not an LTC expert in fact I haven't sold a case in years but without even looking it up I can tell that if you look in any of the carriers agent underwriting handbook you will find that an applicant residing in a nursing home is a decline and that most LTC won't write over the age 85.

Is Penn Treaty still around? They use to underwrite cases nobody else would touch. If they would underwrite an 89 year old for a comprehensive LTC policy 3 year policy with a 5,000 monthly benefit and 90 elimination period the premium would be about 4,500.00 a month of course in this hypothetical scenario she would have to be in very good health and also be able to pass the mental acuity screening .The 90 year old already living in the nursing home would for sure be rated up and premiums would be at least 5,000.00 a month. This is all hypothetical of course just to illustrate insurance companies tend to avoid buying claims.

I would advise client go to plan B and just use savings to pay out of pocket until they spends down assets to 2,000.00 ( in Florida ) to qualify for ICP Medicaid.
------------------------------------
  Reply With Quote to LTC For 89 Year Old Male
Old 07-29-2013, 12:59 AM   #8
Super Genius
 
Join Date: Feb 2011
Posts:120
State: Millwood is an Insurance Agent from Oklahoma
LTC For 89 Year Old Male Re: LTC For 89 Year Old Male
Penn Treaty has been in rehabilitation since 2009. Has asked court to liquidate them numerous times but requests have been denied.
Only a matter of time and PA commissioner is putting off the inevitable trying to delay the guaranty fund from having to pony up.
------------------------------------
  Reply With Quote to LTC For 89 Year Old Male
Old 07-29-2013, 09:15 AM   #9
Guru
 
Join Date: Nov 2009
Posts:402
State: yankee466 is an Insurance Agent from Georgia
LTC For 89 Year Old Male Re: LTC For 89 Year Old Male
Originally Posted by LVGUY View Post
Are there any options for LTC, critical or chronic care available for an 89 year old male in Florida living in his own home who will be turning 90 in September? If so what plans, companies and websites could you direct me to? I would assume that it would be impossible for a 90 year old women residing in a nursing home in Florida to qualify for anything. Thank you. All suggestions are greatly appreciated.
Under the heading of "nothing to lose to look into it"....If the client plans to stay at home for a while, you can get him a home health care product from ASSI called True Freedom. All it does is get you good values on home care agencies and also pays to have friends and family provide home care. It is not a LTC policy.....but it is what it is, with a target client in their 80's or someone who can not get LTC but will need home care in the next 6-18 months

There are no medical questions asked.....and cost is not age based at all.

Else, if Medicaid is not an option, there is little else you can do...but there are agents getting rich selling this product to the 80+ crowd.

Hope this helps.

------------------------------------
Herman Bruns
Atlanta, GA

hbruns@aol.com
  Reply With Quote to LTC For 89 Year Old Male
Old 07-29-2013, 02:59 PM   #10
New Member
 
Join Date: May 2012
Posts:6
State: SimplyPut is an Insurance Agent from Florida
LTC For 89 Year Old Male Re: LTC For 89 Year Old Male
Originally Posted by BobbyMcGee View Post
Medicaid, if he's broke enough.
Yep, just don't caught in the 5 year look back if he is spending down for the sole purpose of LTC.
------------------------------------
  Reply With Quote to LTC For 89 Year Old Male
Reply to LTC For 89 Year Old Male 

  Insurance Agent Forum > Insurance Forum > Insurance Agents and Brokers Forum > Senior Insurance Forum


Tags
long term care




Similar Threads with LTC For 89 Year Old Male
Thread Thread Starter Forum Replies Last Post
67 Year Old Male, NT GI Graded Term quackattack99 Life Insurance Forum 12 05-13-2013 05:35 AM
81 Year Old Male, FE Lead in NY dgoldenz Life Insurance Forum 1 08-20-2010 08:35 PM
Got a 49 Year Old, 345lb 5'11" Male Doctor with No Life Insurance sydney1108 Life Insurance Forum 19 07-29-2010 11:55 AM
10 Year Term Life for a Male Age 65 rags2riches Life Insurance Forum 6 05-04-2010 08:55 AM
56 Year Old Male David C Life Insurance Forum 9 04-15-2010 10:06 AM



All times are GMT -5. The time now is 09:15 AM.

Forum enabled with vBulletin®
Copyright ©2000 - 2014, vBulletin Solutions, Inc.


Join the Forum - It's FREE

Share This Page



Weekly Poll

What is your main strategy for growing your insurance business ?