Have you ever wondered what goes on in an insurance agency from day to day?  Probably not but this is an instance we can all learn from that happened this morning.  I thought I should share.  Obviously, no names will be mentioned to completely protect the source of the information.  But this circumstance isn’t something I haven’t seen before, and today’s version is as SAD as ones that have come before it.

I got an email from a referral source that leads us to folks that need insurance.  I had reached out to this person and had not gotten a response until this morning.  This person called and I gladly took the phone call.

Here is the situation: A 29-year-old young lady – pregnant with her first child began to share that her mother, who is age 60, is showing beginning signs of dementia.  She is also diabetic and has had a stroke in her past.  She has needed extra care because the daughter and her husband can’t take care of her in her current condition.  The doctor qualified her mom for Assisted Living and they have moved her into a Nashville facility.  Mom doesn’t have Long Term Care coverage and the reduced rate they are paying for the assisted living care is $3450 per month.  That is ½ of her and her husband’s annual income.

The inquiry was that her mother needs long term care coverage and I had the challenging task of telling this daughter that it is TOO LATE to purchase for these reasons:

• The policy is underwritten by an insurance company.
• Medical history of the insured is a primary criteria of a policy being issued.
• The mother already shows documented dementia and diabetes in her medical history.  Plus, she had a stroke several years ago.
• She has already qualified for Assisted Living Care by her physician which confirms a pre-existing condition.

What I had to share with this sweet & concerned daughter was the truth – IT’S TOO LATE!  You could hear her voice drop and worry increase.  She can’t bring her mom home because her delivery is soon and they can’t give her the level of care she needs.  Nor do they have the money to continue paying for this care.  She now is faced with negotiating the pricing of this care AGAIN and/or find alternative measures.

For my entire career I have used the phrase – DON’T PUT OFF TO TOMORROW WHAT YOU CAN QUALIFY FOR TODAY!  This is a prime example of that statement being so true!

Where are you with planning for medically underwritten coverage – whether it be Life insurance (this couple is wanting me to quote this for them), Long Term Care coverage (I will be quoting this for them also) and Disability Insurance.  The younger you are – the less expensive the cost.  The longer you wait, the higher the premium and reduced chances of getting best rates because of health/medical history or possibly any coverage at all!. 

Let us know how we can help!  It pains me to see these sad stories come true in real life.  We can fix this – there IS a solution.  We’re here to help if you need us!

Connect with us and tell your friends we are doing all we can to make insurance easy for everyone!  TEXT or PHONE us at 615.377.1212.  EMAIL us at info@BentonWhite.com. 

Please stay safe in your corner of the world!