- Has substantial experience in Long-Term Care Insurance
- A strong understanding of underwriting, policy design, and claims experience
- Represents all or most of all the leading insurance companies
While policies typically share core benefits, they are not all the same. Most insurance agents and financial advisors know very little about designing a policy because the industry and the product features evolve rapidly.
Generally, no. Tax-qualified Long-Term Care Insurance benefits come to you tax-free. Insurance companies that pay long-term care insurance benefits are required by the Internal Revenue Service (IRS) to provide claimants with a 1099 LTC.
No, most of the time long-term care insurance is very affordable. However, it can be more expensive if you are older or have major health issues.
If you own a Long-Term Care Insurance policy, your benefits will follow you when you move. Some companies also offer international benefits. However, if you think you will move, consider the costs of care in that location when designing the policy.
The last thing you want is to own a Long-Term Care policy, start to have your health decline, and then have the company cancel the policy. Luckily, this can't happen.
Very few LTC Insurance companies have pre-existing health exclusions. You need to have reasonably good health to obtain coverage. You don't need to have perfect health.