When you apply for long-term care insurance (LTCI), your health plays a big role in whether you’re approved as well as what you’ll pay. Insurance companies use health ratings to determine your eligibility and premium. Understanding these ratings can help you prepare and make informed decisions.

What Are Health Ratings?

Health ratings are categories insurers use to evaluate your overall health risk. After reviewing your application, medical records, and (sometimes) a phone or in-person interview, the insurer assigns you a rating that determines whether you qualify for coverage, what your premium will be, and how much coverage you can get.

Each company has its own rating system, but most include tiers like:

• Preferred/Select: Excellent health with minimal or no chronic conditions
• Standard: Good health with minor or well-managed health conditions
• Substandard/Rated: Moderate health issues, may lead to higher premiums or limited coverage
• Decline: Serious health conditions that disqualify you from coverage

How Your Health Impacts Your LTCI Policy

The healthier you are when you apply, the more likely you are to qualify for coverage, pay lower premiums, and access more benefit options. Some common health factors that insurers consider include:

• Chronic conditions like diabetes, heart disease, or arthritis
• Mobility and ability to perform daily activities
• Cognitive health
• BMI and lifestyle choices (such as smoking or alcohol use)
• Family medical history

Timing Matters

If you’re in good health now, don’t wait. The best time to apply for LTCI is when you’re healthy and in your 40s, 50s, or early 60s. Waiting until you develop health issues may lead to higher rates or even disqualification.

What If You’re Declined?

If you’re not eligible for traditional long-term care insurance, you still have options. Hybrid or asset-based policies and other planning tools, such as short-term care insurance, may still be available to you.

Get help navigating the LTCI process.

Working with an experienced LTC Advocate can help you find the right fit, whether you’re in excellent health or have existing conditions. They’ll help assess your options and prepare your application to give you the best chance at approval.

Speak with an LTC Advocate today to start exploring your LTCI options.