Long-Term Care Insurance:                                     How Your Current Health Affects Your Premium

IMPORTANCE RATING: 5

Your current health not only has a direct effect on the premium, but it also has a direct effect on your eligibility for long-term care insurance.

Those in good to excellent health will likely qualify for preferred rates. Generally, preferred rates are reserved for people who are average height and weight, non-smokers, and have not experienced any negative physical or mental health conditions in recent years.

A person with minor health conditions that are well-controlled, such as athritis without limitations, will likely qualify for coverage, but will be offered a standard rate. The difference between a preferred rate and standard rate averages about 15%.

If you currently have significant health problems, you may have difficulty obtaining LTC insurance. While some smaller, financially lower-rated insurance carriers may accept your application, we advise extreme caution before purchasing coverage.