Are Long Term Care Insurance Plans Priced Uniformly Across The USA?
No. hey are not the same! The prices for long- term insurance plans differ from company to company in the USA. The cost depends upon the age and health condition of the applicant. Buyers should always consult qualified and experienced insurance professionals in the field to choose the best insurance policy based on their individual profile and needs.
Utilize Credible Price Comparison Tools Online
To save time and money, there are credible comparison resources on the Internet that buyers may use when shopping for the above insurance plans that have more or less similar coverage. These resources help them to evaluate their needs and choose the ideal long- term care insurance policy within their budget.
Average Costs of Long Term Care Insurance Policies for Individuals
As mentioned above, individuals do not pay the same amount for long- term care insurance plans. For instance, if the age of a person is 55 years, the average price that he or she pays for coverage can be approximately $150 (daily benefits) or $1,720 (3 years).
However, for an older individual, the lowest price of the same insurance policy could be approximately $1,428 (daily benefits) and $2,552 (3 years). This difference in the range of costs for the same insurance plan is about 90-100% if the individual is older.
Insurance Agent Versus Insurance Broker
Professional insurance consultants and advisors will give you an insight into the costs of the different plans available in the market after evaluating your age and needs.
Insurance agents and insurance brokers are not the same. Insurance agents in the USA generally market insurance policies from a single company however insurance brokers generally compare the prices of insurance policies from at least 5-6 companies before marketing them. This means if you wish to get more options and choices in the field of long-term care insurance plans, it is prudent to consult credible insurance brokers in the market.
Clarify Doubts before Purchase
Before buying long term care insurance plans, always consult professionals who have valuable experience and skills in the field. Ask them if they can compare coverages of different insurers before purchase. In case, of doubts, it is vital for the individual to clarify them. The terms and conditions of the insurance plan must be defined clearly and understood before purchase.
Compare Prices of Different Insurers Today
There is however an important point to be noted in the field of long term care insurance plans. Unlike, other types of insurance available in the USA, consumers are not permitted to switch plans for a given year to another. This insurance policy is a one-time purchase.
It is necessary for the buyer to research well and compare rates of different insurers wisely before purchase.
Request for Price Quotes
Besides, professional consultation, individuals may request price quote comparison charts provided by credible sources online via email or phone number. They are generally in the form of a simple price index chart that is simple to understand.
These price comparison charts help consumers toget accurate information for making better choices when they are buying long term care insurance plans in the USA.
More Useful Links:
Traditional vs Hybrid Long Term Care Insurance
Help protect your savings from the costs of
care NOT COVERED
by traditional insurances or Government programs, like Medicare.
It helps you choose where you receive care and avoid the nursing
- 40% receiving long-term care are working-age adults, ages of
- About 70% over age 65 will need long-term care services in their
lifetime. By 2020, this number is expected to exceed 12 million.*
Financially strong A.M Best rated insurers with low complaint ratios
related to claims will send you quotes directly and promptly. You
may also have access to instant rate quotes, and side by side plan
comparisons. The service is free, and comes with no obligation.
Your privacy is our highest priority.
Sample Long-Term Care Insurance Savings
Up to 30% Spousal/Partner Discount
Up to 15% Preferred Health Discount
Up to 5% Small Business Discount
* Discounts are not cumulative and vary by state.