Can you buy long-term care insurance IF you are age 75 or older? The answer is a definite MAYBE!. Most insurers stop issuing new policies at age 80. Options are very limited and it will greatly depend on your current health. But considering the potential risk and cost associated with needing care, long-term care insurance can be very valuable protection to own.

Read the health qualification information below. And, the cost information (also below).

IF you would like to speak with a knowledgeable specialist, complete the Compare Benefits & Costs form or call our offices.

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Can I Get Long-Term Care Insurance After Age 75?

YES - If you are in relatively good health and take common prescriptions for common conditions like blood pressure and cholesterol.
YES - If you can meet the height / weight standards.
YES - If you are prepared to spend $7,000-a-year (men) and $12,000 (women) - or more.

NO - If you are OVER AGE 85. NO - If you already need assistance with daily activities or are receiving Social Security DISABILITY.
NO - If you have one of the conditions listed below.
NO - if you can NOT AFFORD to pay $7,000 to $12,000 a year.

MAYBE - If you are in reasonably good health and take prescription medications for common conditions. It definitely pays to speak to a knowledgeable long-term care insurance specialist who can quickly tell you IF any insurance company may consider your application.

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There are basically two types of long-term care insurance. One we call 'traditional'. The other we refer to as 'linked-benefit.'

Traditional is what most people own. The insurance has one function. If you have a qualifying need, it pays benefits. Traditional LTC policies are available between ages 18 and 79.

Linked-Benefit is typically a combination of life insurance with a long-term care rider. Here, if "you use the long-term care benefit, you lose the life insurance benefit". Linked benefit products can also be annuities. Some of these policies aren't 'long-term care' but rather 'chronic illness' riders. Linked-benefit policies are available between 30 and 80. One will accept applicants up to age 85.

Which Is Better? That's like asking which is better, vanilla or chocolate? They each have pros and cons.

Traditional insurance will cost less. But if you don't ever need long-term care, there are no benefits. So, you'll hear financial advisors say "if you don't Use It then you Lose It."

Linked benefit costs more. It will pay either LTC or a death benefit. So with Linked-Benefit "if you Use It (for LTC) then you Lose It in terms of the death benefit."

The choice is a matter of your preferences, potential needs and budget.

IMPORTANT! WHAT MATTERS MOST IS YOUR HEALTH
Insurance companies do DECLINE many applications submitted by individuals after age 70.
If you are currently receiving DISABILITY payments, you will be DECLINED.
If you have SURGERY PENDING, you will need to wait to apply. Discuss with a specialist.
Below the cost information we provide actual health conditions that will result in an AUTOMATIC DECLINE.

Long-Term Care Insurance Costs - Age 75

Traditional
Policy of $165,000 initial benefits, growing at 3% compounded. Available benefits at age 90 equals $257,000.
Male age 75 (Limited Health Issues). $6,700-per-year
Female, age 75 (Limited Health Issues). $11,800-per-year
Rough prices shown (March 2022). Subject to change. Couples discounts NOT included.

Linked-Benefit
$4,500-per-month initial benefit for a 6-year period, growing at 3% compounded annually. So, maximum LTC benefit at age 90 is $505,000. Death benefit at age 100 is $108,000.
Male, age 75 - $43,400 with 5-pay formula (so $43,000 paid each year for 5 years)
Female, age 75 - $50,275 with 5-pay formula (so $50,2750 paid each year for 5 years)

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Health Conditions That Disqualify You For Long-Term Care Insurance

Each insurance company establishes a list of health conditions that will disqualify you. We list some key ones below. And, you can actually open and read a PDF that shows them all.

Traditional Long-Term Care Insurance

Mutual of Omaha's Underwriting guide (for traditional long-term care insurance) is 60 pages, listing all the health conditions and prescription medications that will resulkt in a decline. The first page is the Weight Table. You can click on the link to open the PDF.

Read all the health conditions that may be considered and/or declined

Click here to open a PDF and read.

Here are JUST the As and Bs that will result in a decline
ALS
Alzheimer’s Disease
Amputation due to disease, other than cancer
Amputation 2 or more limbs Amyloidosis
Ankylosing Spondylitis Anorexia
Aplastic Anemia
Arnold-Chiari Malformation Arrhythmia (uncontrolled) Arteriovenous Malformation (AVM)
Arthritis requiring narcotic pain
medication Asperger’s Syndrome Assisted Living Facility
Back Pain (disabling or requiring narcotic pain medication)
Bell’s Palsy (present)
Benign Positional Vertigo (BPV) (with falls)
Bipolar (diagnosed within 3 years, psychiatric hospitalization within 2 years, 2 or more psychiatric hospitalizations)
Blindness (not adapted or with ADL/IADL limitations)
Bowel Incontinence Buerger’s Disease
Bulimia
Bullous Pemphigoid (active)

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Linked-Benefit Long-Term Care Insurance

The following are health conditions from OneAmerica's Underwriting guide (for linked-benefit long-term care insurance)

ALS
Alzheimer's / dementia
Balance diorder / gait impairment
Use of cane / quad or 3-prong
Cerebral palsy
Cirrhosis
Defibrillator
Depression - severe hospitalized within last 5 years
Dialysis
Drug addiction - within last 10 years
HIV positive
Huntington's disease
Multiple sclerosis
Muscular dystrophy
Osteoporosis with compression fractures
Organ transsplants - except kidney
Parkinson's disease
Physical therapy (current)
Wheelchair or walker use

Read all the health conditions that may be considered and/or declined

Click here to open a PDF and read.

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Linked-Benefit Long-Term Care Insurance Resources

Learn more: Find the best linked-benefit long-term care insurance now.

Get costs and comparisons from one leading linked-benefit long-term care agent.

See actual costs for linked-benefit long-term care from 4 top insurers, ages 55 and 65.

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