STUDYING YOUR LONG-TERM CARE INSURANCE QUOTES

You’ve probably heard the advice that if you are interested in buying long-term care insurance, it’s best to request several quotes from different insurance companies.

Request for free long term care quotes when you visit http://www.ltcoptions.com/free-long-term-care-quotes/

You’ve probably heard the advice that if you are interested in buying long-term care insurance, it’s best to request several quotes from different insurance companies.

After getting these quotes, how exactly will you use them to help you determine which policy is the best or most appropriate for your needs?

DETAILS TO CHECK ON YOUR QUOTES:

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DAILY BENEFIT AMOUNT

This feature in a long-term care insurance policy is important not only because it determines your monthly or annual premium charges, but also since it is the fixed amount you will receive on the day your policy takes effect.

You can have a less expensive quote due to a lowered daily benefit, but it still has to be in line with your future needs.

POOL OF MONEY

A policy’s “pool of money” is the maximum amount of coverage available to the insured for long-term care services. Basically, a policyholder is covered until the funds in the pool run out.

Check if your pool of money was properly calculated on the quote. It is determined by multiplying your daily benefit by your benefit period (number of years you are supposed to remain insured).

IN-HOME CARE COVERAGE

Another important detail to check on your quote is the option to receive your care at home.

Make sure that this is paid out 100 percent in the policy you are hoping to purchase.

According to the National Care Planning Council (NCPC), “about 73% of all long term care is provided in the home environment.”

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