Purchasing Long Term Care Insurance Doesn’t Have To Be Daunting

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Feb 24, 2015

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Knowing what kind of long term care insurance to buy and when to buy it can be a daunting task to say the least. It doesn’t help matters that many insurers have denied coverage to policyholders simply because the insurer under estimated health care costs when the majority of policies were written in the 1990’s. Still, long term care insurance can be a viable option for many. Experts say that the key to finding the best insurance is to consider the features of the policy.

Important features to consider

According to the American Association of Retired Persons, consumers should make sure that their long-term care policy explains when coverage begins and how it’s determined. Other important features include coverage for dementia, at least one year of care in a nursing home and home health care coverage and does not require a hosptial stay before collecting. In addition, policyholders should make sure that the policy covers any pre-existing conditions and that they can cancel for any reason within 30 days of purchase and receive a refund. For further considerations, click https://insurance.freeadvice.com/insurance_help.php/105_130_174.htm.

Only purchase insurance from reputable insurers

Consumers looking to purchase any type of insurance sometimes narrow their decision on what to buy based on cost. We certainly all want to save money, but choosing a reputable insurer can mean the difference in actually receiving the benefits of your purchase or fighting for those benefits in court. When deciding who to go with, do a little research. Make sure that you choose a plan that is offered by insurers with financial ratings from independent rating firms such as Standard & Poors (www.standardandpoors.com) or Moody’s Investor Services (www.moodys.com).

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