Underwriting

Underwriting is a risk evaluation process led by insurance underwriters. Underwriters are risk analysis professionals. 

Every insurance company uses different assessments and guidelines to decide whether to insure an individual. Underwriters are responsible for making these decisions. 

Long-Term Care Insurance underwriting assessments can vary by company but generally include:

• A medical questionnaire
• Medical records
• A phone interview with a nurse (sometimes this is an in-person assessment depending on your age)
• A cognitive exam

Underwriting guidelines may also vary by company but generally include:

• Uninsurable medical conditions
• Uninsurable medications
• How health, in general, affects an individual’s rate class or premium and ability to get coverage

Underwriters compare an applicant’s assessment information to the guidelines. They then decide which applications to approve and decline. Once approved, the company will issue a new policy. 

If the underwriter declines the application, the company will not issue a new policy. At this stage, applicants have two choices. They can either appeal the decision or apply for coverage from a different company. 

Each company has different underwriting guidelines. This means applicants may have more luck with one over another. For more information, read our FAQ article on underwriting for Long-Term Care Insurance.