WASHINGTON, D.C.

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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:

NAIC_Shoppers_Guide

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