Persistence (or impertinence) of Memory

Ned White is a writer and novelist from Maine. When he applied for Long-Term Care Insurance, he was informed he must complete a memory test as part of the underwriting process. The reason, he writes, "if you're having memory issues, they don't want to insure you because you may be getting Alzheimer's."

Long-Term Care Insurance will cover Alzheimer's and dementia, but insurance companies will not offer your coverage if you already have memory problems. 

When he found out he had to pass a memory test, he started thinking about his memory and forgetting things he shouldn't forget, like the name of the guy who played Jim in the movie "Mission: Impossible." 

Tests, Who Likes Tests?

Writing about his experience, While shared his thoughts about his memory and preparing for a test despite the fact he "swore off tests" when he graduated from college.

Then, the day before his telephone interview and memory test, he couldn't remember Jon Voight's name, something, he says, that was very disturbing.

Long-term health care costs are rising and have a substantial financial impact on families. However, the consequences of long-term care are more than just financial. Often people fail to plan as White did. The result is their families either become their caregivers, or they pay for expensive professional care - sometimes both. 

Heath Insurance, Medicare and Medicaid are Not LTC Solutions

Health insurance, including Medicare (and Supplements), pays a minimal amount of skilled care services. Medicaid will pay for long-term health care, but you must of little or no income or assets to qualify for those benefits. Many families find this out too late.

Many American families are turning to affordable Long-Term Care Insurance as a solution. Most people who obtain coverage in their 50s, some either younger. Those over age 60 are most likely required to take a memory exam as part of the application process. 

Medical underwriting is one reason why most experts recommend obtaining coverage before you retire when your health is better. LTC Insurance safeguards your future retirement income and assets from the high cost of long-term health care. 

Family Caregivers Face Many Hardships

While paying for professional care is expensive, remember, the consequences of your family can change their lives forever. Family caregivers face many hardships as they attempt to juggle being a caregiver with their other roles of spouse, parent, and employee. The physical and emotional demands are a significant hardship. Planning eases the stress otherwise placed on those you love giving them the time to be family instead of caregivers.

Long-Term Care Insurance is a way to safeguard your income and assets from future declining health and aging. Seek help from a qualified Long-Term Care Insurance specialist that works with the top companies to help you navigate the many options available and help you through the underwriting process. 

Ned did pass his memory test and now has his Long-Term Care Insurance policy. He is hoping he doesn't have to pass any other tests in the future.