Best long term care insuranceSo you want to know the best long term care insurance? That is not an easy question to answer, but, we will endeavor to do our best.
There are many top-rated insurance companies that provide affordable, but quality long-term insurance coverage. The key is finding an experienced full-time broker (or financial planner) that will help you compare your best options. We suggest that you search online for reputable companies in your area.Your budget, your present health record, and other factors, will be taken into consideration when you apply.
Part-time employees, don’t expect to be able to resolve your best choice from radio talks, tv commercial, or media coverage such sources and persons can not provide the detailed expert guidance that you will need. When purchasing long-term care insurance protection, it is important to make certain that the insurance company you select is both committed to the marketplace as well as being financially sound.
The best long term care insurance companies will have been listed and deemed by the industry-wide Association as leading long-term care insurance companies committed to the marketplace. For that reason you should visit your national body for long term care insurance providers. Request from them a designated long term care insurance list which only includes professionals working with the American Association for Long Term Care Insurance.

There Is No One Best Long Term Care Insurance – It Varies According to Your Circumstances and Needs

Your goal is to find through your broker, the insurance companies that are providing the most current and objective information to help you make the smartest decisions.

We suggest that you visit the American Association for Long-Term Care Insurance, which in fact does not sell insurance. On that site look for information or actual cost quotes from a leading expert licensed for your state complete their simple questionnaire.

Choosing the Best Long Term Care Insurance

First, most people just consider companies that have been rated “A++”, which means they are of the highest financial strength. It also means that they will be less likely to raise their rates after a few years, and they will cover you for either in-home care, nursing home care, or assisted living. The Best Age To Start Buying Long Term Care Insurance The prime age to buy is late 50s to early 60s.

So if you have aging parents, talk to them about it. It has been said that about one out of three consumers who call the offices of the American Association for Long-Term Care Insurance are frustrated. They want to buy protection. They even met with an agent and applied. But they were turned down by the insurance company.

The reason in most cases is that they are simply beyond the age when they will be able to make an adequate payment. That’s why we are keen to be sharing the following information about the best age to apply. So that this does not happen to you.

For families dealing with the need to provide long term care for a loved one, the financial impact and emotional strain can be significant. Long term care is necessary when illness, injury or age prevent a person from managing daily tasks like eating, dressing, bathing and transferring. The cost of such care can be high and may in the region of $90,000 anually for a private room at a nursing home. But the emotional stress on families can be equally difficult as preferences for the type and location of care may not match with the family’s ability to pay.

This is where long term care insurance companies can help cover the cost of care and reduce the emotional burden by providing insurance products specifically for long term care.

“When families work with long term care insurance companies to establish a plan, they can take steps to protect their financial future and the lifestyle they want to provide for their loved ones. And when families face the difficult choices around care for an ailing relative, long term care insurance companies can help provide more control over where and when to receive assistance and the type of care to be provided.” – States the John Hancock web page.

Summary

Long-term care (LTC) insurance is important coverage that provides valuable support and financial resources that help cover the cost of long-term care you might need in the event of an illness, accident, or through the normal effects of aging. By helping to protect your assets, and giving you choice and control over where you receive care, including the possibility that it may be in your home, LTC insurance helps you and your family face the future with confidence. The best long term health insurance can best be found through a trusted broker and these can be found through the links provided within this article.

Questions and Answers

What is the best long term care insurance?

Posted by Darrick W
Dan MoleThe kind that’s in force when you need to pay for long-term care.But, seriously folks…. Long-term care insurance is not an “off-the-shelf” commodity. To get the best coverage, you need to do a lot of homework and become an informed consumer on the subject. 1) Take the time to go online and get resources for your research. A good place to start is your state department of health website. Virtually all states have a section on issues involving the elderly where you will find information about late-life health problems and paying for care. 2) Order whatever free information you find there or copy and paste it to a Word file and save it in a folder that you create for “Long-term Care”. 3) After familiarizing yourself with the landscape, contact several nursing facilities and a couple of home care agencies in the location where the insured is likely to retire. Ask them about average costs and what insurance companies they like to work with…and ones that they don’t. 3) Find a competent long-term care agent, preferably one that has taken advanced coursework and is experienced in long-term care PLANNING, not just insurance. Make sure that s/he is an independent agent and can represent several highly rated insurance carriers that have long-time experience in the long-term care market. Examples: John Hancock, MetLife, Genworth (formerly GE) and Prudential. Every carrier designs their coverage a little different from the other, so it’s hard to compare apples-to-apples. The lowest premium is not always the best choice for your particular situation. The rest is up to you. Make your choice of contract design and insurance company based on sound research and a clear understanding of what the insured needs. This coverage isn’t cheap. But, the annual premium may be a lot less that even one month’s cost for home or facility care. Everyone over 45 should be seriously considering this type of insurance – both for themselves, or their parents.
Cancer 12 years ago, no recurrence, is that a disqualification for long-term care insurance?Family member had cervical cancer in about 1997, was treated and had no recurrences. Someone who works on legal issues for elderly indicated that long-term care insurers will blackball anyone who ever had serious cancer, even though risk is not above average now. Is that true? Or will some deny her and others raise rates? This has nothing to do with health insurance, just long-term care insurance.Thank you, Houyhnhnm.

Posted by Houyhnhnm
Dan MoleIt is challenging to qualify for Long Term Care Insurance. I believe some companies would deny her while others might consider her, however some carriers may write an exclusion to the care. The insurer will look at all factors, including, but not limited to, current health, age, smoker vs. Non-smoker, medications, etc. For example, if she smokes, she would probably get denied, as smoking is a higher risk for the cancer to come back. With that being said, a “yes”, or “no” answer to your question would be short sided. Other complications can occur as the result of Cervical Cancer and could have long lasting effects that show up later in life, depending on her severity of cancer. Also, what her follow has been with testing and did she complete everything the Dr. Recommended for further testing. I would suggest getting with a Retirement Planner that knows the world of Long Term Care Insurance and understands what carriers might be more lenient in this area. In addition, I would work with a planner that would present your family members case to the insurance carrier prior to filling out an application and going through the underwriting process, only to get denied. You don’t want a “denial of coverage” on your MIB, or Medical Information Bureau, particularly with Long Term Care Insurance and assuredly that would make getting Long Term Care near impossible. I sold Long Term Care for a top company and they literally denied 50% of my applicants, which wasn’t bad considering they deny 65% of all applicants. I was cautious in my field underwriting, however it always seemed like there were surprises. Make sure your family member is completely honest and upfront about all her medical ailments, otherwise you will be wasting her time and the planners time.
What’s the difference between Long-Term Disability Insurance and Long-Term Care Insurance?I’m 25, which one should I get, if any?

Posted by acohn83
Dan MoleLong-term disability insurance covers you if you’re unable to work. There’s different definitions of long-term disabled. For the first 2 years, it’s usually the “own occ” rule (own occupation), meaning you are covered only if you’re unable to work in the occupation you have skills/education for. After 2 years, it’s usually the “any occ” rule (any occupation), which means you have to be unable to work in any occupation. This is also based on your skills/education, so working at fast food place when you’ve got an undergrad degree won’t stop the coverage. There’s usually a long wait time until LTD plans kick in (6 months on average), but short-term should be covering you through that. LTD plans will usually only reimburse for 60-66.7% of your pay, up to a certain amount each month. Depends on the plan you get!Long-term care is for nursing home care primarily. At 25, you should worry about LTD insurance over the long-term care.
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