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Is LTC Insurance right for me?

Long Term Care Insurance

how do i know if long term care insurance is right for me?Deciding to buy a long-term care insurance policy is an important decision. These policies can help pay for many types of long-term care, but they are not for everyone. We will give you some guidelines commonly accepted in the next section to help you determine if this type of policy may be right for you. If you decide to buy, make sure you compare the costs and benefits of policies from different insurance companies and only those with top ratings. Our Long Term Care Insurance specialists are available to help you with this process.

What does it cover?

Long-term care insurance policies typically cover nursing home stays, community services such as adult day care, in-home care and assisted living facilities. Be sure to consider your desired type of care and choose a policy that covers you in that area. In other words, if your plan is to stay with your daughter in her home, then be sure you will be able to receive benefits in that setting.

A policy covering three to five years of care is the most cost-effective option for most people. However, if you are concerned about care for Alzheimers disease or other types of dementia, you may want to consider more comprehensive coverage.

Is it right for me?

Generally, financial planners recommend considering long-term care insurance if you own assets of at least $75,000 (this does not include your home or car); have annual retirement income of at least $25,000 to $35,000 for an individual or $35,000 to $50,000 for a couple; or are able to pay premiums without financial difficulty, even if premiums increase over time. Long-term care insurance is probably not for you if these factors do not apply to you.

Long-term care insurance can be expensive, depending on your age and health status when you buy the policy and how much coverage you want. Policy costs also vary according to the benefits you choose. It is better to buy long-term care insurance at a younger age when premiums are lower.

Where to go from here?

We hope this information has been helpful. The remainder of the material will provide an in-depth look into the tax considerations for individuals and businesses in regards to Long Term Care insurance, a Frequently Asked Question section and a Glossary of Terms.

If you feel that you would like personal assistance with Long Term Care Insurance or other planning issues, we are here to help.

Our LTCI specialists make your shopping experience easy, by helping compare the costs and benefits of policies from select insurance companies. To speak to a representative or schedule an appointment, simply contact us.

Long Term Insurance Quotes

If paying for long term care is on your mind, you’ve come to the right place for good information and free long term care insurance quotes.  If you want to get started immediately, contact us now for a free quote, with no obligation.

However, if you’d like more information, we invite you to read the next 300 words.  In just two minutes, we’ll point out 3 things you need to know when you compare long term care products and pricing.

The Top 3 Things You Need to Know About Getting Long Term Care Insurance Quotes in California

We feel obligated to provide a few words of advice so you are armed with good information when you’re investigating long term care insurance costs and options.

When you ask for California long term care insurance quotes:

  • Be sure you are comparing apples to apples and not apples to oranges.  This means that there are many different options and a myriad of long term care products available.  Be sure that the product selections are the same when comparing quotes. 
  • Then, take into consideration the quality of the company as well.  You need to make sure that the insurance company will still be there years from now, when you need it.   In addition, you need to understand whether the premiums can be raised and, if so, how often and by how much. 
  • Lastly, consider products other than just straight long term care insurance offerings.  For example, long term care annuities and the hybrid of life insurance with an LTC rider are really hot now.  Find out whether either would be a good fit for you. 

How to Get a California Long Term Care Insurance Quote

Whether you want a quick quote to compare to others you are gathering or you want to ask questions and get professional guidance, we have a team of highly trained professional ready to take your call. 

Of course, there’s no cost or obligation when you call to learn about California long term care insurance products or to get a quote.  We look forward to serving you.