So you’re thinking about getting a long term care insurance (LTCI) but you don’t know which one to go with. Don’t worry; you’re not alone on this one. Over 50% American inquirers of LTCI suffer the same dilemma so in order to assist you further with this problem, here’s a brief note on how to compare long term care services.
There are about six things that you need to look into when you consider getting an LTCI. First thing to consider is the costs. Pricing is very important in settling for an LTCI. Second is age. Policies and offers vary with age and might have lower costs. Next would be location; from where you live, where you will be availing the policy and where you plan on getting the benefits. Another is health. LTCI companies have packages that will suit your medical concerns. Occupation is another and this somehow ties-in with costs and location. Last would be lifestyle and it has a big effect on what type of policy you can get.
Costs are basically what you’ll be looking at first then followed by the benefits. You’ll want to get your money’s worth of course but you don’t want to be over spending as well. Age will determine any privileges that you may get such as early bird specials or big discounts for acquiring at an early age. Location is checked for taxes and what state law would allow and disallow you to receive, depending on the company’s policy or your region’s terms with LTCI.
Now, the rest of factors in considering for long term care services would be health. Health is going to be a big factor. This will determine what type of benefits you will be looking forward to receiving. An example would be with a 39 year old American plumber with a minor case of Parkinson’s disease detected. So from there we can determine what type of health care we will be providing for such a case. Next is occupation and just like the previous example, a plumber, obviously is not making as much money as a lawyer or an engineer and this factor also ties-in with costs and from here we can make adjustments with how the monthly premiums will be covered.
Last will be lifestyle and this is a combined consideration of age, health and occupation. You can be a 29 year old computer engineer with high blood pressure who regularly goes out every weekend drinking with friends or a 46 year old gym class teacher suffering from a chronic pain caused by an injury from your younger years as an athlete who spends the rest of his free time exercising and staying fit. These factors will contribute to the type of possible target issues to be taken care of in the future once the type of policy will be determined.
Please be advised that this is simply a quick guide and do not be under informed. Always feel free in consulting with an LTCI specialist regarding about getting help on how to compare long term care services.