Quick Answer
A quote is a cost estimate for an insurance policy provided by the company.
Detailed Answer
A quote is an estimate from an insurance company about how much a new policy may cost. In Long-Term Care Insurance, this cost estimate includes a few important aspects:
- Estimated or expected premium
- Total benefits within the policy
- Inflation benefits
- Policy features or add-ons
It's important to note that quotes are not set in stone. It's possible to receive an estimate that is more or less than the actual policy cost. However, getting a quote can still be a useful step in comparing different Long-Term Care Insurance options.
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