Guidance in Choosing a Long Term Care Insurance Policy
With so many long term care insurance policy options laid out for you, how would you choose the one that will work best for you without doing the eenie-meenie-miney-moe? You need to consider the expertise of a long term care insurance (LTCI) representative who has an excellent track record and whose roster of clients are now enjoying a life which they thought only existed in one’s imagination.
There are just so many factors to consider when buying an LTCI policy so do not just give in to the sugar-coated words of people whose only goal in life is to rake in the hard earned money of unsuspecting consumers. But, how would you know if the person who tells you that he is an expert in LTCI is telling you the truth or is a mere fluke under the pretense of specializing in LTC plans?
Go check his background, his tenure in the company that he works for and his affiliation. Legitimate LTCI specialists are willing to share the list of clients that they have served in the past or continue to help to this day. If the person you are talking to provides so many excuses to prevent you from going to his professional background, perhaps you should about face for you have slim chances of clinching a coverage.
Now if you can get referrals from family members and friends who also had to acquire the services of an LTCI specialist for their LTC plans, then good for you. It will be much easier for you to find a trustworthy agent.
Discussing Your Long Term Care Insurance Policy Options
Suppose you have an LTCI specialist already, be sure that you let him into all the pieces of information that are relevant to your LTC plan. Do not hold back any information, especially regarding your pre-existing condition or vices if you have any because if you do so it will affect your application.
You have to bear in mind that the role of an LTCI broker is to negotiate for an LTCI policy on your behalf. To ensure that he gets you the right policy which will be suitable for your future health care needs and premium budget, you have to be completely honest with him.
It is also important that your agent knows about your family’s health history. If you are predisposed to a certain health disorder which could later develop into a condition that will require years of care, tell him this for your agent’s opinion or input on the type of coverage that you will need does matter. He is, after all, the expert on the field of LTCI, isn’t he?
After discussing health-related matters let your broker know how you feel about the cost of care in your area as this will affect your policy’s maximum benefit amount. If the cost of care where you live is too high, be sure that you don’t go for a benefit amount which is a thousand dollars less or you could be at risk of bigger out-of-pocket expenses.
You also have to be specific about your maximum benefit period, choice of elimination period, and rate of inflation protection for all of these factors will affect your coverage. By giving yourself time to understand your long term care insurance policy options you have greater chances of clinching a faultless LTCI plan.
Still looking for free long term care quote? We can provide you with free quotes from reliable carriers and aside from that we can also give you an idea about your long term care insurance costs.
Processing your request, Please wait....
