top Rated Long term Care insurance companies
1) You only want to consider companies that have been rated "A++" (by A.M. Best), which means they are of the highest financial strength. It also means that they won't jack up
the rates after a few years and they will cover you for either in-home care or nursing home care.
2) The prime age to buy is late 50s to early 60s. So if you have aging parents, talk to them about it.
3) You should not buy LTC insurance if you are very wealthy or don't have a lot of assets.
Here is a list of companies that have been rated either A++ or A+ by A.M. Best: HONOR ROLL
John Hancock Life Insurance Co. A++
MassMutual Financial Group A++
State Farm Life Insurance Co. A++
USAA Life Insurance Co. A++
New York Life A++
HONORABLE MENTION
GE Life/Genworth Insurance Co. A+
Metropolitan Life Insurance Co. A+
Hartford Life Insurance Co. A+
IDS Life Insurance Co. A+
What Companies are bad risks?
The New York Times published a story about the three companies you absolutely do not want to have. The third largest writer of LTC insurance, Conseco, has 29 times the complaint rate of
the industry leaders. According to reports, Conseco repeatedly does not pay legitimate claims. Banker's Life & Casualty, which is owned by Conseco, was second on the list. The last one is Penn Treaty American,
which is the 7th largest writer of policies. That company has a complaint rate of 9 times the industry leaders. It's horrible. These people have paid throughout their working lives in order to be taken care of when
they no longer can. But that is not happening.
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