Shopping For Long Term Care Insurance Rates

long term care insurance rate shopping

Comparing long term care insurance quotes can be confusing and with the help of a long term care insurance broker can make the challenge a lot easier. Here are some tips:

  • Choose a broker that represents all insurance carriers to compare pricing and coverage.
  • Choose a broker that is knowledgeable and makes the process easy for you to understand.
  • Choose a broker that provides you multiple quotes from all carriers.
  • Choose a broker that can explain to you why one quote is better then the others.

Basically when comparing long term care insurance rates from brokers you will get the same premium quote as long as you are comparing the same policy coverage.  Brokers can’t add fee’s or get you a better price then a different broker. All brokers make a commission right from the insurance company so your quote is going to be the same from every broker you speak with.  The difference is going to be if the broker is providing you several options for your long term care insurance coverage.  This is where a knowledgeable broker can make a difference. The difference in price is going to be between different long term care insurance companies, different policies from each company, and not from different brokers. If you are in excellent health and and you are certain your want long term care insurance, then the younger you are the lower the premiums which can save you a lot of money after 10, 20, 30 or more years. You also have less of a change of being denied while you are young and in good health.

Knowing What is Covered With Your Long Term Care Insurance Policy

Finding out what health care services are covered. When does the disability period allow your benefits to kick in and what will happen if you decide to move to different facilities? What amount does the policy pay per day for nursing care, at home care and assisted living? How long do the benefits last? Do you have any preexisting conditions? Will it cover mental disorders or self inflicted abuse such as alcohol? What about inflation, do you have inflation protection? And who makes the decision about your eligibility for benefits? Your doctor, You, Insurance Company? We recommend to get quotes for policies that include at least three years of health care coverage,  that  includes nursing care, coverage for Alzheimer’s. W also recommend there is no requirement for the insured to first be hospitalized to start receive their benefits.

Review The Financial Strength Of Long Term Care Insurance Companies

Review insurance carriers financial strength. How long have they been in business? How much assets or cash do they have available.  All this can be found on our web site at Long Term Care Insurance Companies. Compare long term care insurance quotes here!