Where To Find Long Term Care Insurance Resources
Visit your insurance agent in his office and then a week later treat your favorite80-year-old aunt to a sumptuous dinner in a quiet restaurant to discuss her long term care insurance resources before she decided to buy a policy.
If you are seriously contemplating buying a long term care insurance (LTCI) policy, you have to look at both sides of the coin in order to completely understand this product.
By just talking to your agent, you will be limited to one side of the story. Even though youve known your agent for years, dont forget that he has a job to fulfill so if you will rely solely on what he has to say about LTCI you wont be able to hear reality.
Meanwhile, if you will only listen to an advice coming from your favorite aunt who purchased an LTCI policy 30 years ago, but whose benefits kicked in just recently then you will wind up counseling a distressed soul.
Now if you will take time off to talk about LTCI with both persons, you will be able to understand the advantages of buying a policy from an agents point of view and from a clients perspective. Whats more, you will know what the insurer expects from a customer and what a customer should do and not do to avoid feeling cheated on by her insurer later on.
Online Long Term Care Insurance Resources
Before beginning that project discussed earlier, why not first check out the websites of various insurance companies that market LTCI policies? Each company has unique offerings, although at first glance everything might seem the same with what the rest offers. Perhaps this is on account of the terminology that used in the industry.
Then you can proceed to read the bulk of online articles that are relevant to LTCI. These articles happen to be a good source of information, too, as some were written by LTCI brokers and carriers while others by LTCI policyholders or their relatives.
Constant reading and research will get you closer to the facts but then again, not everything that you read speaks the truth about LTCI. Sometimes, you have to leave your house and conduct research elsewhere. Investigate the different types of LTCI policies like a news reporter would a newly elected public official.
Also take note of policies that will cover your expenses in a nursing home, assisted living facility, adult day care health center, and even at home. There have been a number of policyholders who complained that their insurance was not honored in a nursing home so they had to make do with an assisted living facility.
Aside from the extent of insurance coverage, familiarize yourself with the fine print of an LTCI policy. Many people think that the moment they experience functional limitations they would instantly qualify for long term care (LTC).
Had they read and listened to reliable long term care insurance resources they wouldve known that their health condition has to satisfy what is stipulated on their policies and, perhaps, they will feel differently.
by: Finella Parks