Knowing Your Source of Long Term Care Insurance

If you acknowledge the importance of having a long term care insurance policy then you have taken the first step in planning your long term care (LTC).  You can now proceed to requesting long term care insurance quotes but don’t do it in haste lest you fall victim to frauds.

In case you meet somebody who claims to be an expert on the field of long term care insurance (LTCI) but charges a fee for the LTCI quotes that he will provide you, about face immediately.  Authorized LTCI agents or companies provide LTCI quotes at no cost at all.  For validity of this statement,  check with your state’s department of insurance.

While you’re at the department of insurance you can request a list of insurance companies and agents who are authorized to market and sell LTCI policies.  Now if you are after a policy which complies with the Partnership LTCI Program you have to say so because not all LTCI companies are allowed to sell this type of policy.  Only those who have complied with the initial eight-hour training designed for Partnership LTCI have the right to sell policies under this category.

Suppose you have acquired a list of legit LTCI companies from the department of insurance.  Do not contact anyone just yet.  Make an effort to conduct a background check on each.  Be particular with the tenure of each company and its affiliation.  Those that have been in the industry longer and have been working with the country’s leading LTCI carriers for decades now are more capable of getting you a good deal than newbies who are still in the process of learning the ropes.

Why Long Term Care Quote Matter

LTCI quotes keep people from clinching the wrong coverage.  Oh yes, such thing exists in the industry.  As a matter of fact, there have been countless LTCI policyholders who failed to receive their benefits because they did not study the various factors that comprise their policies.  They just went ahead and purchased a policy without knowing what goes into one. 

There are many factors that you have to consider before buying a policy otherwise you could end up like the rest.  Most consumers think that as long as they are able to compute their maximum benefit amount and benefit period accurately, they have nothing else to worry about. 

Oftentimes, the problem stems from the benefit triggers which are almost always taken for granted.  Some people think that if they cannot walk they would instantly qualify for their LTCI benefits thinking walking and transferring are one and the same.  Most policies stipulate transferring from a chair to a bed and vice versa, and not simply walking from one room of the house to another. 

Aside from being able to understand the various components of a policy, LTCI quotes will guarantee you huge savings as you will eventually learn about premium discounts which you can avail.

There is no better time than today to request your long term care quote.  You can do it online or you might want to contact a trustworthy LTCI broker in your area to help you out.