long Term Care Insurance Advice
Long Term Care Insurance advice is the main purpose of this web site, but since long term care insurance plans change every day and the advice is sometimes out of date,
it is best to seek long term care insurance from an agent that you personally trust or advice from a reputable company like John Hancock Life Insurance Co. rated A++,
MassMutual Financial Group, ratee A++, State Farm Life Insurance Co. rated A++, and for the military and family
members, USAA Life Insurance Co. rated A++. Listen to the advice of Ronald L.Grant, a Long-Term Care Specialist, about what questions you should be asking when looking for a long-term care
insurance agent?
If you reach age 65, about 70 percent of us will need long term care, according to the New York
Times. That's three out of four people. So, who should buy it and when should you buy it? Well, if you are loaded with dough (assets greater than $3 million) or you have almost no assets at all, you
should not buy LTC insurance. Everyone else needs it. The time to buy is in the late 50s and early 60s. If you buy after that it can get too expensive.
What Companies are bad risks?
The New York Times also published a story about the three companies you absolutely do not want to
have. The third largest writer of LTC insurance, Conseco, has 29 times the complaint rate of the industry leaders. According to reports, Conseco repeatedly does not pay legitimate claims. Banker's
Life & Casualty, which is owned by Conseco, was second on the list. The last one is Penn Treaty American, which is the 7th largest writer of policies. That company has a complaint rate of 9 times the
industry leaders. It's horrible. These people have paid throughout their working lives in order to be taken care of when they no longer can. But that is not happening.
Questions you should ask a Long Term Care Insurance Agent
Ask the agent if he or she has purchased their own Long -Term Care Insurance Policy? If not ask
them why? If an Agent is trying to sell you a policy and does not have one maybe the agent is just looking for the commission and really does not believe in the product. Keep in mind that younger
agents under 40 years of age will not have long term care policies because of their age. Most financial experts agree that long term care policies should not be purchased until after a person is 50 years of age.
Ask the agent if he or she has any Insurance Industry Formal Designations after their name in the
Long-Term Care Industry. The client should benefit from an agents continued education and career commitment.
Ask the agent how many policies he or she has sold in dollar amount in one year? The greater the
dollar amount an agent has and the longer the agent has been selling Long -Term Care Insurance the more experienced the agent should be. Someone that just started selling Long -Term Care
Insurance is likely not to know the right questions to ask or how to create the proper plan for you. Remember the greater the knowledge your agent has the more informed you will be and he easier it
will be to make the right decision. Just because an agent has been selling Insurance for a long time does not mean he or she knows how to sell Long -Term Care Insurance. Long-Term Care Insurance
is a very complex product. Always try to use a specialist, remember no agent can be all things to all clients. Long -Term Care is not about insurance; it is about solving problems that may arise if you or
a family member becomes incapacitated.
Ask the agent if he or she represents just one company? Never buy Long -Term Care Insurance from
an agent that represents just one company. When you purchase from one company it may be right for the agent and the company but not for client. Not all companies offer the same benefits, options,
rates, discounts or underwriting guidelines so you should have multiple companies to choose from. The more choices you have the better chance you have of purchasing the right policy for you.
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