long term care insurance quote
How to get a good along term insurance quote
Getting a long term care insurance quote in much more involved than buying car insurance and should not be attempted over the internet. Use the internet to find information, but find a
long term care insurance agent and schedule a face to face meeting before asking for a quote.
There are state to state differences in long term care insurance and there are so many variables that it really takes little since trying to do it by e-mail. Look for reputable
companies in your state and contact one of those agencies and ask for their long term care specialist.
The LTC specialist should be certified within your home state and by his company. Rates and rules for long term care insurance keep changing and agents are required to keep abreast of the current regulations pertaining to long term care insurance.
Of course the most important thing affecting your rate is your current health and age.
If you are in bad health now or in your late 60's LTC rates will be high or you may not be able to get any LTC insurance at all. Most people should get long term care insurance when they reach their '50s or early 60's . The only groups who don't need LTC insurance are those who have very few assets or millions of dollars in wealth.
Also, inquire about joint husband and wife LTC Insurance. These policies let you pay into a joint policy and if one spouse dies before that individual's LTC coverage is exhausted,
the balances reverts to the spouse. As an example, a couple pays into a policy that provides each spouse 3 years of long term care, and the husband dies after one year in the nursing home.
The remaining 2 years of his coverage is added to the wife's coverage and extends her long term care to 5 years.
If you have no idea what a LTC policy should cost, a ball park figure for 2007 for 3 years of long term care is about $2500-3000 per year for
a healthy, non-smoking male in his late 50's. Remember, you pay for the insurance until you actually start using the protection. Policies can not be paid up over a 10 or 20 year period like some life insurance policies.
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