Long Term Care Insurance Tips

Have you ever wondered whether Long Term Care Insurance is a good fit for you? If you’re in the marketing looking to quench your thirst for information about LTC, this article highlights a series of top tips that you can count on. The Long Term Care Insurance tips below are helpful for anyone who’s just started learning what exactly this form of insurance is, and what it covers.

LTC Insurance Tips

  1. Take your time shopping – there are multiple companies selling LTC coverage in the market, and you want to do your homework well before you buy. Long Term Care insurance is a great way to protect your assets and avoid being a burden to your children in the case you need care post-retirement.
  2. Prioritize ‘Blue Chip’ company plans – it goes better if you work with firms that are at the top of the pack. But we make it easier for you. At LTC Key, we unlock just the ‘A’ rated firms and send you side-by-side benefit comparisons so you can make a smart choice.
  3. LTC Insurance is not for everyone – if you often suffer from poor health or possess liquid assets that are valued at less than $60,000, this might not work for you.
  4. “Ditch your financial advisor” – yes! 99% percent of ‘financial advisors’ will sell you Long Term Care insurance. But the sad fact is that most of them have no idea what the hell they are doing. It’s not their domain, and they probably sell it to you just because they want to be a one-stop shop. LTC Key is a market leader in the Long Term Care Insurance industry. From unearthing crucial information to finding the right plan for your needs, this is where to stop.
  5. Study policies keenly – before you sign a piece of contract or write a check, it’s imperative that you learn and understand what the police you’re about to buy covers. Ask as many questions as you can come up with. Find out whether or not the agent who’s selling you LTC Insurance is licensed to sell it in your state.
  6. Do you qualify? – maybe you do, maybe you don’t – find out! The younger you are when you buy LTC Cover, the lower premiums you’ll pay. If you’re very old and probably already suffering from a number of health issues, most companies may reject your application.
  7. Don’t bet on Medicare or Medicaid – anyone who tells you to rely on Medicare or Medicaid probably does not have your best interests at heart. Here’s why – before Medicaid (welfare) starts paying a dime, you’ve got to prove that you’re as broke as a crackhead on the second day of the month. And that’s not all. With these two options, you have a potentially limited choice of care facilities.
  8. Take advantage of tax breaks – qualified LTC insurance policies get tax-free benefits. Depending on how you file, you might be able to deduct your premiums tax-free. Check out our article on this subject for more details here.
  9. Beware of local agents with hard sells – there are lots of local insurance agents with very pushy sales tactics out there trying to sell anything to anyone who’ll buy it. They’ll probably call for an appointment, and sit in your kitchen for two years using a lifetime of sales experience to try and get you to sign a check. When you start your shopping journey from an online joint like ours, you get quotes from different providers pressure-free. Not to forget, you save time and empower yourself to make a smarter choice.
  10. Medicare is not associated with an LTC policy – you might come across some ads suggesting that Medicare has some association to LTC coverage. This is as false as it gets. Medicare neither endorses nor sells Long Term Care Insurance.

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At LTC Key, we are more than glad to guide you demystify Long Term Care Insurance. Now that you’ve read these top Long Term Care insurance coverage tips, we can guide you on the process of buying right. Simply request a quote below.