Q: Will being diagnosed with Alzheimer’s disqualify mom for life insurance?
A: Coverage is not typically offered for individuals that have been diagnosed prior to age 75.
However, there are many factors that can affect the underwriting decision for a life insurance applicant who has Alzheimer's.
A few of the factors are:
- The applicant's current age
- The age at the onset of Alzheimer's symptoms
- The type (and extent) of assistance needed to perform activities of daily living
If the policy is issued, the annual premium may be cost prohibitive and you may need to look for other options of care.
If you are shopping for coverage for a loved one with Alzheimer's, it pays to look for an insurance professional who specializes in "substandard impaired risk life insurance."
Rosanne Rogé is a Certified Financial Planner, Certified Senior Advisor and Registered Financial Gerontologist who leads R.W. Rogé & Company, Inc.
Read her full biography