“abnormal MRI” and long-term care insurance

I’ve helped several people who have been declined for long-term care insurance because they had an “abnormal MRI”.  Why would an “abnormal MRI” be a reason someone could be declined for long-term care insurance?

Over 30% of claims on long-term care insurance policies are because of dementia or Alzheimer’s.  Some long term care insurers believe that an “abnormal MRI” is a possible precursor to dementia or Alzheimer’s.

The good news is that not all long term care insurers think that.

Recently, we worked with a very healthy woman in her early sixties.  She works full-time.  She has no significant health issues, except for some treatment for mild depression a few years back.  She is not taking any prescription medications.  She has not been hospitalized nor had any type of surgery in the last ten years.  She has no history of cancer, nor diabetes, nor heart disease.  She has no history of tobacco use and she is not overweight.

However, she did have migraine-like symptoms a few years back and was given an MRI.  The MRI showed some “signal abnormalities” in her brain with the possibility of “chronic small vessel disease”.  She was declined by one of the top ten long term care insurers because of the MRI results.   A few other insurers told us that they could not even consider an application.  A couple of the top LTC insurers said that they would consider insuring her if she had another MRI which definitively ruled out “chronic small vessel disease”.

2 of the top 10 long term care insurers said they would consider an application right now.  We submitted applications to both of those companies.  One of them declined her and one approved her with their “standard” rates.  The insurer that approved her has high financial ratings; and this insurer has one of the best track records in the LTC insurance industry for claims payment and premium stability.

Remember:

• Every long term care insurer has a different way of looking at health history
• Just because you’re declined by one long term care insurer, does not mean you can’t get approved by another.

Scott A. Olson