Replacing Long Term Care Insurance Policies

Jeff Opdyke from the Wall Street Journal writes in today’s Charlotte Observer that for many current policyholders of Long Term Care Insurance, considering replacing coverage may be a good idea.  Let me discuss this in brief below.  Everyday, we here at LTC Tree work with people from across the country who are familiar with long term care insurance, but often they are familiar with previous incarnations of LTC insurance. 

New Laws Make Replacing LTC Easier

The article revolves around the NAIC’s model legislation that many states are passing.  Essentially, this legislation makes rate increases less profitable for insurance companies.  As a result, the companies have more incentive to price their policies correctly to start with, for future rate increases will be less rewarding to the long term care insurance companies.

Re-Shopping Your Long Term Care Policy

Before replacing insurance, always consult with a trusted adviser, such as us here at LTC Tree.  Allow your adviser to look over and compare coverages.  Odds are there are going to be several key differences in coverage.  A few key points:

  • Don’t just shop on rate – shop on company strength.
  • Re-evaluate your needs – there are a lot of options, and you may be “over insuring” yourself.
  • Age and health are important factors – if your health has declined significantly, you may not qualify for new benefits.

Request FREE Quotes Below:

The smart and easy way to shop for Long Term Care Insurance

To receive your free policy comparisons and quotes, please complete this simple, secure form below. Then, sit back and relax.  We will shop the market and provide you with exact quotes.  You no longer need to move from company to company in search of the best product to fit your needs because we work with the major Long Term Care Insurance carriers.

Your customized analysis includes:

  • A review of each company's financial stability ratings, claims experience, and size.

  • A thorough, side-by-side comparison of each company's policy features.
    We cover the similarities and the differences.
  • Price comparisons customized to suit your specific needs from top carriers such as Genworth, TransAmerica, John Hancock, New York Life, MassMutual, Mutual of Omaha, Prudential Financial, and more.

    Carriers quoted will depend on your state.  Completing this form does not bind you to any insurance policy.

» Click here to get quotes.

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