| 1. SHOP AROUND! Premiums vary greatly in
Long Term Care Insurance. We represent most of the major Long
Term Care Insurance companies and we find differences of 10%
to 50% in the premium charged for essentially the same policy
benefits. Use an independent broker who will give you a quote
and represent you. |
| |
| 2. WEIGH BENEFITS AGAINST COST!
Know which policy benefits are important to you. |
| |
| 3. LONGER ELIMINATION PERIODS!
A 0 day elimination period makes the premium
higher than a 90 day elimination period. Most people can afford
to
pay the first 90 days, and Medicare, HMO’s and Supplements
may cover all or part of these expenses. It works just like
an auto insurance policy deductible…the larger the deductible
the lower the premium will be. |
| |
| 4. LONGER BENEFIT PERIODS! Cover the catastrophic
need. Lifetime coverage is most desirable, since you will not
outlive the benefits. Although it does not happen often, a long
term care need can last for over 10 years. This allows enough time
to plan your estate disposition. Any property you transfer within
three years of a Medicaid Application is subject to possible
reversal and criminal penalties. |
| |
| 5. AGE CHANGES Birthdays increase the premium anywhere from 4% to 10% depending
on your attained age. By purchasing when you are younger
and
in good health you will always pay less premiums and your coverage
will be assured for a longer period of time. |
| |
| 6. SPOUSAL DOMESTIC PARTNER DISCOUNTS Most
insurance companies offer a discount for a husband and
wife
applying for coverage at the same time. A few insurance companies
offer discounts for a joint applicant. Any two individuals
living together in the same household may qualify for this
benefit. |
| |
| 7. SIMPLE INTEREST VS. COMPOUND INTEREST
Anyone under 70 should give strong consideration to either a
simple interest or a compound interest Cost of Living Adjustment
(COLA) Rider. This will allow your benefits to keep pace with
inflation. If you are approaching 70 and find the cost of the
compound inflation rider prohibitive, consider the simple interest
inflation rider, or purchases somewhat higher benefits that
you need today without the inflation rider to compensate for
future long term care costs. |
| |
| 8. SOMETHING IS BETTER THAN NOTHING If nursing
home costs are currently $150 a day in your area, and you can
only afford a day plan, go ahead. Right now you are self-insuring
100% of the exposure. It is certainly better to have two thirds
(66.7%) covered now than nothing at all. Don’t procrastinate
because of high premiums. Pick a premium you can afford
and purchase a Long Term Care Insurance plan based on your
budget. |
| |
| 9. BIGGEST BENEFIT IS PEACE OF MIND Studies
show that the most important reasons people purchase Long Term Care
Insurance is to protect assets and to assure
that they will not be dependent on others. |
| |
10. WE CAN HELP YOU SAVE
get a quote or 
contact us at (866) 582 - 0003 |
| |
| |
