Yes, I want you to consider buying long-term care insurance. No, we don’t sell long-term care insurance, so it doesn’t matter who you buy from. But, after nearly 20 years in the long-term care insurance field, I have learned that there are smart questions to ask before you sign on the dotted line.
With that in mind, I would like to share those questions and some explanation why each can save you money … get you better coverage … or even a combination of the two.
Question 1. Do you have access to policies from more than one company (and how many have you compared for me)?
There are between 40 and 50 different insurance companies today offering long-term care insurance policies. Each sets their own rates and depending on your age, health, marital status there can be quite a variance. For example, the Association recently requested rates for a 55-year-old from four leading insurers (Genworth, John Hancock, New York Life and Northwestern Mutual). These are all excellent companies.