LONG TERM CARE SHOPPING TIPS
- Shop around for an insurance agent and an insurance company–ask friends, family or neighbors if they recommend their insurance agent or company.
- Ask insurance agents which insurance company’s products they sell; most agents only sell products from a few companies. Compare several different products from several different insurance companies. You might need to talk with several different agents.
- Carefully compare the benefits and restrictions between policies.
- Most LTC insurance premiums increase over time. Carefully evaluate whether premium payments over a long period could be a financial hardship.
- Never pay insurance premiums in cash; do not make checks payable to the insurance agent.
- Read your policy carefully and ask follow up questions.
- Use your 30-day “Free Look” period to return a policy for a full refund if you are not satisfied!
- Understand what a Long Term Care Partnership (LTCPP) policy is, how it differs from non-LTCPP policies, and whether it is affordable for you.
LONG-TERM CARE INSURANCE SHOPPING TIPS
- Shop around for an insurance agent and an insurance company–ask friends, family or neighbors if they recommend their insurance agent or company.
- Ask insurance agents which insurance company’s products they sell; most agents only sell products from a few companies. Compare several different products from several different insurance companies. You might need to talk with several different agents.
- Carefully compare the benefits and restrictions between policies.
- Most LTC insurance premiums increase over time. Carefully evaluate whether premium payments over a long period could be a financial hardship.
- Never pay insurance premiums in cash; do not make checks payable to the insurance agent.
- Read your policy carefully and ask follow up questions.
- Use your 30-day “Free Look” period to return a policy for a full refund if you are not satisfied!
- Understand what a Long Term Care Partnership (LTCPP) policy is, how it differs from non-LTCPP policies, and whether it is affordable for you.
THE DISTRICT OF COLUMBIA RECOMMENDS:
For further assistance, please contact us.
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