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Step 1
Experts say that 60 percent of all people over the age of 65 will need some form of long-term care—whether in a nursing home, adult day
care center, assisted living facility, or at home. Of every ten couples, seven will have one spouse who requires nursing home care.
If you are considering long-term care insurance for yourself or a loved one, here are ten helpful shopping tips: -
Step 2
1. Check the stability of the companies you are considering.
2. Contact several companies and agents. It’s always a good idea to
compare.
3. Take time to review each plan. Any long-term care plan you buy should
be able to be customized to meet your specific lifestyle, financial situation, and personal health needs.
4. Be sure you understand the policy and the coverage as well as limitations.
5. Have the agent who sells the policy carefully explain all of your rights and obligations under the coverage.
6. Be sure you keep a record of the name, address, and phone numbers of
the agents and companies you contact. This will make it easier later to
go back and ask questions.
7. Never pay in cash. Use a check or money order so you have a record.
8. Don’t buy more than one long-term care policy. If it is a policy that covers all levels of care in a variety of settings, that is all you’ll need.
9. Before signing, Read and re-read the policy again.
10. Ask questions and be sure you understand the answers. -
Step 3
Planning ahead will provide you with more choices and control should a loved one need long-term care. When considering this insurance, talk to an agent who specializes in long-term care and understands the coverage.
