Very rarely do I find what I consider to be an unbiased viewpoint on long-term care insurance. Truly. It seems like the majority of the press on Long-Term care has an agenda; either the author is an insurance agent pushing the insurance industry agenda or a member of the media who hates LTC insurance no matter what.
Then I found a regular column in the Seattle Times, Liz Taylor on Long-Term Care Insurance. I highly recommend checking her latest column out, linked above. I believe you will agree that Liz makes valid points for and against long-term care insurance. In the interest of full disclosure, Liz does have a LTC policy, so she must not dislike them too much.
A few points related to the gist of her long-term care insurance article:
- Liz points out that some policies pay discounted home and community care. We ALWAYS recommend going with a plan that pays 100% across the board. You want to stay home as long as possible, and having home health care limited on your long term care insurance policy is bad business.
- Genworth and Allianz both offer “non-agency” payment options. Keep this in mind! This is a huge benefit down the road. Most Genworth policies will even pay for friends from church, neighbors, etc. when you need home health care. This can add up to a huge savings down the road.
- Request multiple quotes ALWAYS. You can do so below this blog post. We recommend comparing and taking your time when it comes to looking at long-term care insurance.
