When you are able to request a long term care quote from each of the insurance companies you have shortlisted, you will the chance to see and compare the difference in terms of services included, coverage scope, and costs of the coverage. Every insurance company have their own way of underwriting so better be aware that coverage for each of them will also be different.
If you do not have the time and cannot exert the effort to contact each company and provide them an information sheet, there is an easier way to do this Contacting a long term care insurance (LTCI) broker can ease and speed up the process. You can get hold of an LTC quote at the easiest way possible. This broker can act in your behalf once you provide him your info sheet. He will be the one requesting quotes for you.
Policies would have different long term care benefit amount. No need to get the plan with the highest maximum benefit amount. Just ensure that the coverage meet your needs. The amount of the benefits must suit the cost of care in your region or within your state. Know about the type of care you might need and how much would it likely cost.
You may also want to consult your family regarding the comparison of LTC quotes and long term care insurance costs. Planning is really essential so seek the help of your loved ones and the advise of reliable experts like LTCI agents.
Read more about Comparing Long Term Care Quotes
While long term care insurance can surely provide for your long term care needs once you need it and it may hold a lot of promises for your premium care, be sure to still research on it before buying long term care plans.
Sometimes we get too impulsive, making quick decisions or easy purchases, but buying a long term care insurance should not come very easy. The long term care system is quite complex and there’s a lot to understand. Most of the times, the terms or policies can be easily understood but there are some that would really need better explanations specially from experts like financial managers, insurance agents, LTC experts, etc. Gathering all the resources you’ll need and understanding them can help you arrive at better and wiser decisions.
There are websites that offer complete information about this type of insurance and the available care options that it covers. You can learn about long term care insurance costs in your state, how to save on premiums, and you can even get a free long term care quote.
Based on what you’ll learn, try to analyze your needs and see if LTC insurance is really the answer to those needs.
Try to visit CompleteLongTermCare.com. It offers very useful and helpful resources on long term care planning and buying.
If you’re living in Alabama, fondly called Heart of Dixie, and are planning for your long term care, here are some of the most important things that you have to know about long term care costs.
Alabama Partnership Program
Thank God for the Alabama Long Term Care Insurance Partnership Program which became effective in March 1, 2009, Alabama residents can expect reliable assistance in paying for their long term care costs. Similarly, they can also protect their assets from spend down requirements. With the collaboration of Alabama Medicaid Agency and the Alabama Department of Insurance, residents can better plan and prepare for their future care needs.
Cost of Care in Alabama
According to Genworth’s 2011 Cost of Care Survey, Licensed Homemaker Services in this state has an hourly rate that ranges $12 to $25. As for Licensed Home Health Aides, the figures are quite the same coming from $13 and reaching up to $25. But if you’re planning to get into an Adult Day Care, daily rate ranges between $16 to $55.
On the other hand, in Assisted Living Facilities, expect to pay thousands of dollars. For single occupancy, monthly rates are at $1600 to $4950. In the case of nursing homes, the costs for semi-private and private room are almost the same so it’s better to choose the private. The minimum daily rate for semi is $130 while its $132 for the other. But for the max daily rate, semi is at $233 while private is $10 higher at $243.
If you want to know more about LTC services and their costs, visit LTC.gov or contact your state’s health department. For a long term care quote, contact a preferred insurance carrier within your region.
Before buying a long term care insurance, be sure to ask for free quotes first. This is to allow you to scout for the best prices and be able to compare which of the carriers can provide you the best deal. Most of the time, companies provide a free long term care quote. For customer convenience, company websites usually have a page for LTC quotes.
There is an online form that can be easily accomplished to ask for quotes. One just have to fill in his or her name, her age, her address, the state he or she lives in, and her contact details. The state where you live in is another factor for there long term care costs by state. After receiving the quote from one insurance company, try to request again but this time from other companies. As a consumer you have the choice to buy your plan on a reliable company which also offers the most competitive price.
Here is an example of an online long term care quote form.
Similarly, visit longtermcare.gov if you want to have additional long term care information.