Seek Specialist to Help with Long-Term Care Insurance Plan
Aging is inevitable, and most people today are highly aware of the need to plan for longevity and its impact on personal incomes, savings, and lifestyle. Interest in Long-Term Care Insurance continues to increase as American families see firsthand how aging and health issues affect their savings and way of life.
Long-Term Care Insurance is already helping families cover expenses. In 2024, major insurance companies paid out over $15 billion in long-term care benefits. Much of that money allows people to remain in their homes.
LTC Insurance provides the resources to safeguard your income and assets while reducing stress and anxiety for the family. While many people look online or consult a local insurance agent or financial adviser, they often find that those professionals lack the experience and knowledge this topic requires. The question remains: who should you turn to for accurate information to make an informed decision?
LTC Insurance Specialist Can Help You Plan
Many organizations, including the American Association for Long-Term Care Insurance (AALTCI) and LTC News, advise consumers to work with an experienced specialist who represents multiple major insurance companies. Experts say that choosing the right professional is just as important as selecting the right policy.
Many general insurance agents and financial advisors lack the training or background to guide clients through the complexities of long-term care planning. Policy design, medical underwriting, state partnership requirements, and claims processes vary widely.
Every insurer has its own strengths, limitations, and underwriting niches. A qualified specialist can explain these differences, simplify the choices, and help you avoid costly mistakes.
Long-Term Care Insurance premiums are regulated, but pricing is not uniform. Costs can vary dramatically across companies for the same level of benefits, making comparison shopping essential.
A specialist who works with multiple insurers can help you identify the most cost-effective option based on your age, health, and financial goals.
Most of the top LTC Insurance specialists hold the esteemed Certified in Long-Term Care (CLTC) Designation, have been vetted as a trusted specialist by LTC News, are highly recommended as Ramsey Trusted Pros by Dave Ramsey’s organization, and are endorsed by the American Association for Long-Term Care Insurance.
Read more on the LTC News Long-Term Care Insurance Education Center.
LTC Specialists Will Help You Plan and Prepare
Most likely, the most qualified specialist will not even be in your state. Most top specialists will help consumers by using the internet and the telephone. You can start your research and learn about your options and shop all the companies safely within your home without your need to ever go to an office.
When you find a specialist, be sure they ask you very detailed questions about your health, family history, and financial situation. The specialist will need to understand your future (or current) retirement plans to make the proper recommendations and determine suitability.
Most insurance companies use electronic applications to simplify the application process and reduce paper waste. The process is easy and safe.
If the insurance agent or advisor doesn't spend considerable time discussing these areas listed above, you should be suspicious. Experts say an insurance agent or financial advisor cannot provide accurate quotes or provide professional recommendations without getting this information before generating the quotes.
Experts say underwriting rules are very specific but differ from company to company. Plus, you might qualify for discounts with one company and not another. Options like shared spousal benefits might give your plan flexibility.
LTC Insurance is Affordable, but Premiums Vary Over 100%
Premiums can vary over 100% for the same benefits. A Long-Term Care Insurance specialist will match your age, health, family history, and other factors in generating quotes and recommendations. Armed with this information, the specialist can save you money.
Start your research by finding the current and future cost of care services where you live. The LTC News Cost of Care Calculator is a great tool that allows you to see the financial impact long-term health care will have on your assets and income. You will also see any important state-specific information like available tax incentives available in your state, plus the availability of partnership plans which provide additional dollar-for-dollar asset protection.
You can find a trusted and experienced Long-Term Care Insurance specialist by submitting your information for LTC Insurance quotes here
Maintain Control Over Your Life - Avoid Dependency
As you are thinking about planning for the financial costs and burdens of aging, understand the reality of getting older. You will face many changes in the coming decades that will affect your health, body, and mind. The consequences can be enormous.
The fact is long-term care creates dependency. Most people don't want to be dependent on anyone. You want control and independence. Plus, most people don't want to place the stress and burden of caregiving on their family members. Affordable Long-Term Care Insurance keeps you in control, protecting your savings and easing this burden otherwise placed on those you love.
Know the facts. Longevity means a greater risk of needing extended care.
As we get older, many of us will require help with routine activities of daily living or even supervision due to cognitive decline. Caregiving is hard on loved ones, and paid professional care will drain your hard-earned savings and adversely impact your income and lifestyle.
Long-Term Care Insurance is an affordable solution that will give you and your family peace of mind. But don't delay. Act before you retire, ideally in your 40s or 50s, when you can enjoy low premiums and even preferred health discounts.