When you decide to purchase a long term care insurance policy, the underwriting period begins. This article will describe how the general long term care insurance underwriting policy goes.

No Physical Required

Normally there is no physical required when you apply for long term care insurance.  The carriers will simply use medical records from past physicals with your doctor.  If a physical is needed, most companies will pay for it, within certain limits, at your own personal doctor's office. 

The Application

On the long term care insurance application, you will be asked to identify any preexisting medical conditions that you are aware of.  Beyond that, there are a few health questions but the application itself is not too detailed.  It generally only takes a few minutes to complete the long term care application.  One of the most important sections regards your primary care physician.  The insurance company will contact your doctor to verify medical records.

Underwriting: Timing & Process

Underwriting normally takes about six weeks start to finish, and during this time the insurance company underwriters will be looking over your medical records obtained from your primary care physician.  Once they have determined your eligibility, depending on your age the company will normaly schedule either a phone interview or an in-person interview.  This interview is to determine whether you have any current cognitive impairments.  

All Done: Policy Issue

Once underwriting is completed and it is determined that you qualify, a policy will be issued and delivered within a few weeks.  At this point, it is important that you verify benefits and review your policy.  The NAIC mandates that you have 30 days to review the policy with a full refund if you reject it.