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Understanding Your Long Term Care Insurance Benefits, Part 12: Can I Still Purchase Long-Term Care Insurance?

The purpose of this video is to give an answer to a question we are frequently asked: "Can I still purchase Long-Term Care Insurance?" This video will also quickly highlight other private-pay options to pay for care if a long-term care insurance policy is not in place.

This video is part 12 of a video series that has been created to help individuals obtain a better understanding of Long-Term Care Insurance. More specifically, what Long-Term Care is, who needs Long-Term Care, what the types of Long-Term Care are, what Long-Term Care Insurance covers, Considerations, and whether or not someone can still purchase long-term care insurance.

The entire video series can be found here on our YouTube channel:


On this slide, I wanted to just show and reinforce that having long-term care insurance really makes receiving care easier. I got these quotes from an article that I found by the American Association for Long-Term Care Insurance.

  • "15% of home care recipients did not think they would be able to receive care if they did not have their long-term care insurance policy. About the same for assisted living residents."
  • "83% of claimants agree that having their long-term care insurance made it easier to obtain services."

And certainly, it's easier to get services because, in some cases, there's no out-of-pocket cost, or the out-of-pocket cost is minimal. At the end of the day, long-term care insurance is great and makes things easier because it's all about not having to take that money out of your pocket.

Sometimes I get the question, "Can I still purchase long-term care insurance?" And my answer is to consult with a financial advisor or insurance specialist to find out more. Individuals must qualify in order to get long-term care insurance coverage.

So the easiest way to put this is that the older you get, the more likely you will have health issues that will not be acceptable to an insurance company, and therefore, you would be denied. And that's what this graphic is talking about on the right-hand side. It's talking about the percentage of applications that are declined by age band. As you can see, as you get older, the percentage of declines or denials increases.

What I can also tell you is that the traditional long-term care plans of the past are few and far between nowadays. What I've seen most commonly nowadays are a hybrid type of policy that has both life insurance with long-term care insurance benefits embedded. In the end, I would say don't wait much longer if you are wanting to look into long-term care insurance. The longer you wait, the more expensive it will be, and you have a greater chance of being declined.

If you need a referral to a great financial advisor or insurance specialist in our area of Manatee County, feel free to reach out to me.

I showed this slide just to give you some other options to pay for care. Perhaps life insurance can be used to pay for care or a reverse mortgage or trust and annuities.

Thank you for watching this video. Make sure you watch the next video as we continue this discussion about long-term care insurance policies.


Home Helpers of Bradenton is one of the region's leading home care franchises specializing in comprehensive services for seniors. Home Helpers' sole mission is to make life easier for clients and their families. Based in Bradenton, Florida, the company serves all of Manatee County, including the communities of Anna Maria, Bradenton, Bradenton Beach, Ellenton, Holmes Beach, Lakewood Ranch, Longboat Key, Palmetto, and Parrish. For more information or to request a free in-home care assessment, contact our office at (941) 499-5946 or visit our website at