How to Buy Long Term Care Insurance Policy?

Long term care insurance policy applications are subject to an underwriting process by which they are approved. Every company has its own set of parameters for approval. The premiums are also determined after consideration of these factors and chosen terms of the policy. If you are aware of the factors on which the companies fix the pricing of the plans you can choose more wisely so as to get the best deal – a plan which fulfils your requirements at reasonable costs.

  • Find out how the terms of the policy affect your premiums. A shorter benefit period and longer elimination period will get you lower premiums. Similarly, other factors will also determine the cost of your plan.
  • You should be aware of exactly how the claims process works – what are the benefit triggers, which are the accepted activities of daily living,how to claim the benefits etc, if cognitive impairment is covered by the policy.
  • You should find out the options, riders and discounts which will help to lower the premiums.
  • You should ask the insurance company about the cash value option and if there is a payment of dividends.If the benefits are never used during your lifetime, is there any option of refunds.
  • Gather information about the financial stability of the company and their past claim records

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When to Buy Long Term Care Insurance?

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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.

Find Local Doctors & Most Popular Plans

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.

PLUS, Receive 2 FREE Books -
Long Term Care Insurance & Preventing Dementia

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