Affordable Long Term Care Insurance

Written by Norene Anderson
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Affordable long term care insurance can be found online by doing some comparison shopping. Reputable insurance brokers and agents can quickly obtain quotes from several insurance providers in your state of residence. In evaluating comparison quotes, make sure you are looking at the same benefits from each. Look at the services that are provided and carefully note what is excluded from coverage.

Another thing to consider in evaluating insurance policies is the financial stability of the carrier. It is most likely that you will not use the policy for at least 10 or 20 years or longer after you subscribe. There are companies that independently rate insurance carriers according to the financial strength. You certainly want to choose a company that has a strong financial history. Ratings such as Standard & Poor's AAA, AA, and A are very high. Fitch ratings of A- to AAA show a company is in excellent financial health.

Find Affordable Long Term Care Insurance before You Need It

Ask your agent about the claims processing history of the company before you enroll. Find out how long it takes for the company to pay once a claim is filed. You also need to ask if you are responsible for filing the claim or if it can be filed by the institution or service provider. Paperwork can become very consuming for family members when you are confined.

Before committing to a policy, make sure you understand the terms. If it is not clear to you, enlist the service of someone with insurance expertise that you trust. You may need to ask a lawyer or some other impartial voice to evaluate the provisions in relation to the premium. An independent insurance agent is an excellent resource for finding the most affordable policy.


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