Long Term Care Insurance Center

Long Term Care Insurance Q & As

Question 1 of 5 in Choosing The Insurance Company
Shopping for coverage. How do I determine from whom to buy?
There are considerations other than cost that can help you determine from whom to buy. Choose from the steps below to give yourself the greatest "bang for your buck"-- the most value for your premium dollar.

1. It is extremely important to select a company that is highly rated. In addition to the financial strength of a company, its reputation for the fair treatment of its policyholders should be considered. This is a subjective matter and difficult to assess. Have you done business with the company in the past and are you satisfied? Have your friends done business with the company?

2. Next, consider the factors that trigger benefits. In a non-qualified policy, there is more room for variation among companies and within state jurisdictions. If possible, look for a policy that triggers for either "any one of the seven ADLs", or "cognitive impairment".

3. If you and your spouse are to be covered by the same policy, consider buying from a company that offers a discount.

4. Finally, buy from the company that has strength and a good reputation, and will offer you the benefits you have selected at the best price.