A decline for long-term care insurance (LTCI) can feel discouraging, but it doesn’t mean the end of your planning journey. There are several alternative strategies that can help you protect yourself and your family from the high costs of future care.

Why LTCI Applications Are Declined

Applications are usually declined due to current or past health conditions, cognitive concerns, or a history of hospitalizations or chronic illness. Because LTCI is medically underwritten, insurers assess your health to determine eligibility.

If you were recently declined, it’s important to understand why. With the help of an LTC Advocate you may be able to:

• Appeal the decision.
• Reapply later if your condition improves.
• Consider another carrier with more flexible underwriting.

Alternatives to Traditional LTCI

If you’re not eligible for traditional LTCI, here are other ways to plan for long-term care:

1. Asset-Based Long-Term Care Products

Also called hybrid policies, these combine life insurance or annuities with long-term care coverage. They often have less strict health requirements and may still be available after a traditional decline.

2. Short-Term Care Insurance

This type of policy offers coverage for a limited time period (usually less than one year). It’s easier to qualify for and can help cover costs if you eventually need care.

3. Self-Funding with a Plan

If insurance isn’t an option, you can still create a strategy to set aside funds specifically for future care. Working with a financial professional can help you structure these assets in a way that aligns with your goals.

4. Medicaid Planning

For those with limited income or assets, Medicaid may be the safety net for long-term care. However, qualification rules are strict, so it’s wise to work with a legal or financial expert familiar with Medicaid planning strategies.

Remember, you’re not alone. An LTC Advocate can help!

A decline isn’t the end of your long-term care plan. It’s simply a redirection. Many people are surprised to find more options than they expected, especially with guidance from an experienced specialist.

We encourage you to schedule a free, no-obligation consultation with one of our trusted LTC Advocates. They’ll review your situation and help you identify the best alternatives for your needs.