Can a person with a disability (I have MS) get long term care insurance?
Based on a review of resources from the National Multiple Sclerosis
Society, the answer is yes, although only under a very limited set of
circumstances, and it may be more difficult now than it has been in
the past.
The most comprehensive article I could find on the subject is
"Long-term care insurance: myths and facts" by Martin V. Jones, Inside
MS, looksmart (Summer 1994)
http://www.findarticles.com/p/articles/mi_m0850/is_n2_v12/ai_15653978.
It states the following:
"The industry surveys show that although half of LTCI companies
automatically reject applications from all people with MS, an equal
number will consider them, on a case-by-case basis. Generally, three
conditions must be met. First, the applicant must have had MS for a
'prolonged' period of time, ten or more years. Second, she or he must
currently show no major MS symptoms, no disability, and no obvious
problems with 'activities of daily living' --dressing, bathing,
eating, and so on. Third, like any other applicant, the MS applicant
must be in good general health."
"There is at least one company in every state that will consider LTCI
applications from healthy, nondisabled people with mild MS. In some
states, there may be as many as ten."
More recent articles from the National Multiple Sclerosis Society's
web site are more pessimistic.
"For people who can afford it, long-term care insurance may be an
option. However, individuals with preexisting conditions usually have
difficulty obtaining coverage, and those who obtain coverage likely
will pay very high premiums, perhaps costing as much as the needed
care."
"The Challenge Of Long-Term Care" National Multiple Sclerosis Society
(April 2002) http://www.nationalmssociety.org/Issues-Longterm.asp
"People with MS typically cannot purchase long-term care insurance. MS
strikes young adults ? frequently in their twenties and thirties --
before they have established careers and before they would consider
buying long-term care insurance. Once the diagnosis is made, insurers
will rarely underwrite long-term care policies."
"New York MS Coalition Action Network 2004 Legislative Agenda"
National Multiple Sclerosis Society (2004)
http://nationalmssociety.org/nyn/event/event_page.asp?p=17256&e=7199
Minnesota seems to be taking a progressive approach to trying to
improve access to long-term care insurance for people with MS:
"The Minnesota Department of Human Services will be conducting a study
to look at long-term care insurance and identify strategies for
increasing availability and access to this insurance. The chapter will
work with the department to ensure that they identify strategies for
people with MS to have improved access to this insurance coverage."
"Final impacts of the 2003 legislative session to some people with
multiple sclerosis" National Multiple Sclerosis Society (July 14,
2003) http://www.nationalmssociety.org/mnm/whats_new/news_detail.asp?n=740&m=1
In summary, I suspect you can find a company willing to underwrite
long-term care insurance if you meet the criteria spelled out in the
first reference and are not price sensitive. My experience with
trying to find long-term care insurance with arthritis is that a
premier long-term care insurance company was not interested, but less
financially sound companies were willing to look at taking me on, but
at a very high cost. Once I became significantly disabled by my
arthritis, no companies were interested.
I suggest calling multiple long-term care insurance brokers in your
area and discussing your situation with them to see what suggestions
they have. At least in my case, the GE broker could not help me, but
was able to refer me to another one who potentially could.
Good luck in finding coverage at a reasonable price.
Sincerely,
Wonko
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