by Kilgores5 » Fri Jul 01, 2011 05:58 pm
I'm looking at my family's overall health and financial wellness and decided that I should probably add a LTC policy for everyone in the family; however, I can't seem to find anyone who offers such coverage for minor children under 18 years. Any assistance in pointing me the right direction would be greatly appreciated.
Posted: Sat Jul 02, 2011 05:55 pm Post Subject:
I represent 8 carriers. None of them will offer actual Long Term Care Insurance prior to age 18. Most states prohibit underwriting prior to age 18 and the risk is very high for a company to take on coverage with a child that could have some type of terminal illness. Now you may be thinking of a hospital indemnity policy instead of LTC. This will pay a cash benefit per each day spent in the hospital. State Farm actually offers this pretty easily. Hope this helps.
Posted: Sun Jul 03, 2011 05:43 pm Post Subject:
I guess long term care insurance is meant to serve senior citizens. It is expensive and there's no point in paying towards LTC for minors.
Posted: Mon Jul 04, 2011 05:33 am Post Subject:
The issuance of long term care insurance is governed under state laws. I am not aware of any state that allows LTCI to be offered to anyone under age 18 or later than age 84.
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