Are Long-Term Care Insurance Policies Portable?

What happens if you move - does your Long-Term Care Insurance policy work somewhere else? Absolutely. You can use your benefits anywhere in the United States and U.S. territories. Many companies include Canada, and some include the United Kingdom.

There are some companies with wider international coverage. Often, however, the international benefits are limited. You will want to ask a Long-Term Care Insurance specialist or the insurance company about the international coverage of the policy you own or are considering. 

One thing to consider when you are purchasing a Long-Term Care Insurance policy is if you might move in the future. LTC Insurance is custom designed. You get the choose the amount of benefits you wish to have in the policy. The cost of long-term health care varies depending on where you live. If you move to a location where the cost of care is more expensive, you may find yourself short of what you may need to cover expenses effectively. If you move to a location where care costs are less, you may have more benefits than what you need - although that means you have more money to spend for care - better than being very short.

Consult with the LTC NEWS Cost of Care Calculator to see the current and future cost of extended care.

 

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