Major blue chip carriers provide discounts ranging from 5% (for the multi-policy) to 40% (for the married couples and partners). It’s important that you’re aware of what discounts you may benefit from when buying your Long Term Care insurance policy.
Types of LTC Discounts Available
Spousal LTC insurance discounts – married couples qualify for 20 to 40% marital or partner discount.- Preferred health LTC Insurance discounts.
- Gay,lesbian and same-sex partner LTC insurance discounts – committed couples might also qualify for the partner discount.
- LTC multi-policy discounts – this applies for those who already have a policy with an insurance company. You get let’s say 5% the additional (LTC) policy.
- Siblings Discount – siblings (brothers and sister) who live together might qualify for the LTC household discount.
Spousal Discounts
The insurance discounts for partners range from 30% to 40%, varying from one insurer to the other. Given such a significant discount, the potential savings on your insurance policy may be huge. Insurers are so generous with their partner discount since statistics suggest that people with a partner are less likely to file claims.
Good Health LTC Discounts
Also known as the Preferred Health discounts, Good Health discounts are extended to insurance policy subscribers who have good health records. These health benefits are available from 10 to 20 percent off the entire insurance premium. Different firms have differing criteria for qualifying policyholders. It’s important that you compare several carriers to maximize your chances of landing a significant preferred health discount.
At LTC Key, we guide you through all the discounts available out there, and put you in a position to make an informed choice. Our quick and convenient comparative tools also helps you figure out what company might have the best LTC coverage for your needs.
Sponsored Group Insurance Discount
Some insurance companies provide 5% discounts to members of certain organizations. If you interested in learning more regarding what discounts may apply for you, you should check out with independent brokerage platforms such as LTC Key. We allow you to check with various insurance companies all at once. This way, you’ll be in a much better position to land the best deal available in the market.
Gay, Lesbian and Same-Sex Partner LTC Insurance Discounts
Most big-brand insurance carriers offer the ‘Married or Couple’ discount to gays and lesbians living together. There might be some exceptions, but most times it’s exactly the same as the full marriage discount.