What Exactly Is Long Term Care

For various reasons like serious injury, prolonged illness, age-related problems etc, people become incapacitated to the extent that they are not able to perform everyday activities on their own. Tasks like eating, bathing, using the toilet – have to be done with assistance. This assistance is termed as long term care as it can extend over a long time.

When this care is administered at a facility or nursing home, the costs are very high. Patients can also get professional nursing care at home which also entails a substantial cost. A long term care insurance policy takes care of these costs so that you do not have to spend your savings or depend on family members.

Long term care insurance policies are sold by health insurance companies as an independent policy. Medicare covers very little and Medicaid covers some of the long term care costs. It is very important to choose a good long term care insurance policy with the right benefits from a financially strong company. You may not need the benefits for a long time after you buy the policy.

Long Term Care Insurance Reviews

Different rating agencies publish the ratings awarded to various insurance companies on the basis on their products, customer service and satisfaction, claim settlement factors etc. Customers who have bought the products also give their feedback on the companies and products. These reviews can be helpful while taking decisions regarding the purchase of long term care insurance policies.

Some of the Best Long Term Care Insurance Companies

The companies are rated on the basis of various factors which help prospective customers to know about the company before making their purchases.

  • MetLife
  • This is an internationally recognized company with high ratings and a range of products.

  • Mutual of Omaha
  • This company offers two flexible long term care insurance policies which gives options to choose waiting period, benefit period, inflation protection etc as per the customer’s need. It is among the top five insurance companies in this category.

  • Transamerica
  • This company has received high ratings in 2017. The premiums are a little on the higher side but the reliability and service standards make it worth it.

  • John Hancock
  • Premiums of this company are considerably higher than comparable plans. Offers all types of long term care insurance plans and innovative products.

  • Genworth
  • Apart from all types of long term care plans, Genworth also offers State Partnership Plans which are a combination of state and private coverage.

  • ACSIA Partners
  • This company has a large network with long term care insurance companies through which they provide a very wide selection of plans and in-depth knowledge about the choices the customers have.

  • New York Life
  • Premiums of this reputed company are very competitive. It has received very high ratings and ranks among the top of the list. Customers can depend on the company’s stability. It does not offer group long term care insurance plans.

  • Mass Mutual
  • This company has received high ratings from all the best rating agencies with a promise of high standards of service. Premiums are slightly higher than other comparable plans.

While going through reviews you should find out the number of lawsuits filed against the company or the record of claims denied by the particular company. This will give you an idea of the long term care insurance companies you should avoid.

2017 Long Term Care Insurance Reviews - Compare Low Premiums - Top Brands!