Importance of Pre-Screening

Importance of Pre-Screening

What’s critical in long term care insurance planning is to “pre-screen” or “pre-qualify” with a person, again, before any application is submitted (or even a quote is presented).

Once initial pre-screening has been done, a qualified advisor can ask various insurance companies how they would most likely underwrite the condition (or conditions).  No individuals’ names or any other identifying information is given to the insurance company…just the nature of the medical condition(s).

There are general questions that should be asked during the pre-screening process.  One company suggests the following:

  • Have you been asked or has it been suggested that you restrict or discontinue any activities or hobbies within the last 12 months?
  • Has there been any recent change in your health history in the last 12 months (both positive or negative) including new or additional medications not required last year or reduction or discontinuing of medications?
  • Have you recently or regularly not taken medications as prescribed by your physician?
  • Have you had or been asked to have any specialized testing (other than age appropriate screenings) that you have not completed? What was the test(s) and why was it requested?
  • Are you currently participating in any type of physical or occupational therapy? If so, what and why?
  • Any planned or recommended surgery? If so, what is planned or recommended?
  • What was your height and weight when you last saw your physician? Has your weight gone up or down since that appointment?

Answers to these questions and the questions below can help determine if an offer can be made and, if so, what is the likely health class that can be offered.  Information obtained from these types of questions can again be used to inquire confidentially (no personal information disclosed) with underwriters of various insurance companies before an application is taken as to whether or not they may be able to make an offer.

The last thing an applicant wants is too simply submit an application when there is a known medical history that might then be rejected (decline to offer) by the insurance company.  Having an application declined may make it harder to get an offer from another insurance company.  Doing initial homework is very important in the planning process!  That’s why it’s critical to work with an experienced long term care insurance advisor.

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